Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down Following 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 $16.49, but opened at $16.00. Neumora Therapeutics shares last traded at $14.81, with a volume of 170,838 shares.

Specifically, Director Matthew K. Fust sold 14,049 shares of the company’s 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 directly owns 20,100 shares of the company’s stock, valued at $342,303. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

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

Neumora Therapeutics Stock Performance

The business has a fifty day simple moving average of $12.73 and a 200 day simple moving average of $11.33. The stock has a market cap of $2.36 billion and a price-to-earnings ratio of -6.44.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). On average, equities research analysts anticipate that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors have recently modified their holdings of NMRA. Amalgamated Bank grew its stake in Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after acquiring an additional 2,402 shares during the period. Quarry LP acquired a new stake in shares of Neumora Therapeutics during the second quarter worth $98,000. SkyOak Wealth LLC purchased a new stake in shares of Neumora Therapeutics in the second quarter valued at $147,000. Principal Financial Group Inc. acquired a new position in Neumora Therapeutics in the second quarter valued at $166,000. Finally, Clarius Group LLC purchased a new position in Neumora Therapeutics during the third quarter worth about $224,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

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.