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

Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $15.51, but opened at $15.14. Neumora Therapeutics shares last traded at $15.75, with a volume of 42,296 shares traded.

Specifically, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the transaction, the insider now owns 322,966 shares in the company, valued at $4,847,719.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Mizuho began coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an “outperform” rating and a $20.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday, September 12th. Finally, HC Wainwright started coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.83.

Neumora Therapeutics Stock Up 0.6 %

The company has a 50 day moving average price of $12.33 and a 200-day moving average price of $11.25. The company has a market cap of $2.49 billion and a price-to-earnings ratio of -6.09.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings data 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, analysts forecast that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Institutional Trading of Neumora Therapeutics

Several institutional investors have recently added to or reduced their stakes in NMRA. Price T Rowe Associates Inc. MD bought a new position in shares of Neumora Therapeutics during the 1st quarter worth approximately $10,354,000. Baker BROS. Advisors LP purchased a new stake in Neumora Therapeutics in the 1st quarter valued at $8,715,000. Callan Capital LLC raised its position in Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after buying an additional 456,207 shares during the last quarter. Artal Group S.A. raised its position in Neumora Therapeutics by 14.5% in the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after buying an additional 371,350 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Neumora Therapeutics by 474.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock valued at $2,316,000 after purchasing an additional 194,559 shares during the last quarter. 47.65% of the stock is currently owned by institutional investors.

About Neumora Therapeutics

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.