Stock Traders Purchase High Volume of Neumora Therapeutics Call Options (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw some unusual options trading activity on Thursday. Stock traders purchased 23,875 call options on the company. This represents an increase of 1,102% compared to the typical daily volume of 1,987 call options.

Neumora Therapeutics Price Performance

NMRA stock opened at $10.58 on Friday. The stock has a market capitalization of $1.71 billion, a P/E ratio of -5.51 and a beta of 3.37. Neumora Therapeutics has a fifty-two week low of $8.33 and a fifty-two week high of $21.00. The business has a 50-day moving average of $12.18 and a 200-day moving average of $11.49.

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 the consensus estimate of ($0.39) by ($0.06). During the same period in the prior year, the company earned ($1.14) EPS. Equities analysts expect that Neumora Therapeutics will post -1.61 EPS for the current year.

Insider Buying and Selling at Neumora Therapeutics

In related news, 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 value of $83,500.63. Following the sale, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew K. Fust sold 14,049 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the transaction, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. This represents a 41.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,400 shares of company stock worth $686,361. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Neumora Therapeutics by 139.7% in the third 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. Callan Capital LLC lifted its stake 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 purchasing an additional 456,207 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Neumora Therapeutics by 79.5% during the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock worth $1,099,000 after purchasing an additional 49,527 shares during the period. Rhumbline Advisers grew its holdings in Neumora Therapeutics by 488.3% during the second quarter. Rhumbline Advisers now owns 103,258 shares of the company’s stock worth $1,015,000 after purchasing an additional 85,706 shares during the period. Finally, Auour Investments LLC acquired a new position in Neumora Therapeutics during the third quarter worth approximately $3,302,000. Institutional investors own 47.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NMRA. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a research report on Friday, November 22nd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Neumora Therapeutics in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.