Logos Global Management LP Has $2.95 Million Position in Neumora Therapeutics, Inc. (NASDAQ:NMRA)

Logos Global Management LP reduced its position in shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,000 shares of the company’s stock after selling 82,345 shares during the period. Logos Global Management LP owned about 0.19% of Neumora Therapeutics worth $2,949,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NMRA. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research note on Thursday, September 12th. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, Mizuho began coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

Neumora Therapeutics Price Performance

Shares of NASDAQ:NMRA opened at $12.78 on Tuesday. Neumora Therapeutics, Inc. has a 1 year low of $8.33 and a 1 year high of $21.00. The business’s 50 day simple moving average is $11.77 and its 200 day simple moving average is $11.31.

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

Insider Buying and Selling at Neumora Therapeutics

In related news, CFO Joshua Pinto sold 28,496 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total transaction of $331,408.48. Following the sale, the chief financial officer now owns 210,469 shares of the company’s stock, valued at approximately $2,447,754.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Robert A. Lenz sold 30,788 shares of the firm’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 completion of the transaction, the insider now directly owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joshua Pinto sold 28,496 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $11.63, for a total value of $331,408.48. Following the transaction, the chief financial officer now directly owns 210,469 shares of the company’s stock, valued at $2,447,754.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,926 shares of company stock valued at $1,067,758. 26.40% of the stock is currently owned by corporate insiders.

Neumora Therapeutics 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.