Neumora Therapeutics (NASDAQ:NMRA) Stock Price Down 4.3% – Here’s Why

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price was down 4.3% on Tuesday . The company traded as low as $10.48 and last traded at $10.58. Approximately 432,580 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 749,277 shares. The stock had previously closed at $11.06.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NMRA. Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a report on Friday, November 22nd. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

Neumora Therapeutics Stock Down 4.2 %

The firm has a 50-day moving average price of $10.89 and a two-hundred day moving average price of $11.59. The company has a market capitalization of $1.71 billion, a P/E ratio of -5.67 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the previous year, the company earned ($1.14) EPS. On average, analysts predict that Neumora Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the sale, the insider now directly owns 322,966 shares in the company, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the sale, the director now directly owns 20,100 shares in the company, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The disclosure for this sale can be found here. 26.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Neumora Therapeutics

A number of institutional investors have recently added to or reduced their stakes in NMRA. State Street Corp lifted its position in shares of Neumora Therapeutics by 65.3% during the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after buying an additional 707,409 shares during the period. Geode Capital Management LLC raised its stake in Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after acquiring an additional 694,385 shares in the last quarter. Callan Capital LLC lifted its holdings in shares of Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Neumora Therapeutics by 139.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after purchasing an additional 406,891 shares in the last quarter. Finally, Auour Investments LLC bought a new stake in shares of Neumora Therapeutics in the 3rd quarter worth about $3,302,000. 47.65% of the stock is owned by institutional investors and hedge funds.

Neumora Therapeutics Company Profile

Neumora Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutic treatments for brain diseases, neuropsychiatric disorders, and neurodegenerative diseases. The company develops navacaprant (NMRA-140), a novel once-daily oral kappa opioid receptor antagonist, which is in phase 3 clinical trials for the treatment of major depressive disorder.