Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down Following Insider Selling

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $16.49, but opened at $16.00. Neumora Therapeutics shares last traded at $14.81, with a volume of 170,838 shares traded.

Specifically, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the transaction, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research report on Friday. HC Wainwright began coverage on shares of Neumora Therapeutics in a research report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price objective for the company. Mizuho started coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $29.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.83.

Neumora Therapeutics Trading Down 14.8 %

The firm has a market capitalization of $2.24 billion and a P/E ratio of -5.49. The company has a 50 day moving average of $12.79 and a 200-day moving average of $11.33.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). As a group, sell-side analysts forecast that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

Several large investors have recently modified their holdings of the business. Artal Group S.A. grew its holdings in Neumora Therapeutics by 14.5% during the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after acquiring an additional 371,350 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Neumora Therapeutics during the first quarter valued at approximately $10,354,000. Callan Capital LLC lifted its holdings in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after purchasing an additional 456,207 shares in the last quarter. Baker BROS. Advisors LP bought a new stake in Neumora Therapeutics during the 1st quarter valued at $8,715,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Neumora Therapeutics by 474.1% in the second quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock valued at $2,316,000 after buying an additional 194,559 shares in the last quarter. Institutional investors own 47.65% of the company’s stock.

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.