Franklin Resources Inc. Lowers Holdings in Neumora Therapeutics, Inc. (NASDAQ:NMRA)

Franklin Resources Inc. lowered its stake in shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) by 13.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,702 shares of the company’s stock after selling 12,241 shares during the quarter. Franklin Resources Inc.’s holdings in Neumora Therapeutics were worth $1,000,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Amalgamated Bank increased its position in Neumora Therapeutics by 472.8% during the second quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares during the last quarter. Quarry LP purchased a new stake in shares of Neumora Therapeutics during the 2nd quarter valued at $98,000. SkyOak Wealth LLC acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter worth $147,000. Principal Financial Group Inc. purchased a new position in shares of Neumora Therapeutics in the 2nd quarter worth $166,000. Finally, Intech Investment Management LLC acquired a new position in Neumora Therapeutics in the third quarter valued at $175,000. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price objective on shares of Neumora Therapeutics in a report on Friday, November 22nd. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a research report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Insider Buying and Selling

In related news, insider Robert A. Lenz sold 5,563 shares of Neumora Therapeutics stock in a transaction 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 completion of the sale, the insider now owns 322,966 shares in the company, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction 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 in the company, valued at $342,303. This trade represents a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.40% of the company’s stock.

Neumora Therapeutics Stock Down 0.1 %

NMRA opened at $11.33 on Friday. The firm has a market capitalization of $1.83 billion, a P/E ratio of -6.06 and a beta of 3.34. The firm’s 50 day moving average is $11.07 and its 200-day moving average is $11.58. Neumora Therapeutics, Inc. has a 52-week low of $8.33 and a 52-week high of $21.00.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same period in the previous year, the business posted ($1.14) EPS. Equities analysts expect that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

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.