Neumora Therapeutics (NASDAQ:NMRA) Shares Down 3.1%

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares traded down 3.1% during trading on Tuesday . The company traded as low as $12.22 and last traded at $12.39. 145,829 shares changed hands during trading, a decline of 77% from the average session volume of 628,826 shares. The stock had previously closed at $12.78.

Wall Street Analyst Weigh In

NMRA has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research report on Thursday, September 12th. Mizuho began coverage on Neumora Therapeutics in a research report on Monday, July 8th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

Neumora Therapeutics Price Performance

The company has a 50-day simple moving average of $11.77 and a 200 day simple moving average of $11.31.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.37). On average, equities research analysts expect that Neumora Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Activity at Neumora Therapeutics

In related news, insider Robert A. Lenz sold 30,788 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total transaction of $363,606.28. Following the transaction, the insider now directly owns 339,205 shares in the company, valued at approximately $4,006,011.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Joshua Pinto sold 31,642 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.78, for a total transaction of $372,742.76. Following the completion of the sale, the chief financial officer now owns 154,658 shares in the company, valued at approximately $1,821,871.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Lenz sold 30,788 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total transaction of $363,606.28. Following the transaction, the insider now directly owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. The disclosure for this sale can be found here. Insiders sold 90,926 shares of company stock valued at $1,067,758 over the last 90 days. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NMRA. Avidity Partners Management LP boosted its stake in shares of Neumora Therapeutics by 10.6% in the fourth quarter. Avidity Partners Management LP now owns 1,990,632 shares of the company’s stock valued at $33,940,000 after buying an additional 190,632 shares in the last quarter. Auour Investments LLC acquired a new position in shares of Neumora Therapeutics in the first quarter worth $1,445,000. Callan Capital LLC acquired a new position in Neumora Therapeutics in the first quarter valued at $2,819,000. Nan Fung Group Holdings Ltd acquired a new position in Neumora Therapeutics in the first quarter valued at $871,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics in the first quarter valued at $10,354,000. 47.65% of the stock is currently 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.