Neumora Therapeutics (NASDAQ:NMRA) Trading Down 8.1% – Time to Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price was down 8.1% during mid-day trading on Tuesday . The stock traded as low as $12.31 and last traded at $12.54. Approximately 58,258 shares traded hands during trading, a decline of 92% from the average daily volume of 715,389 shares. The stock had previously closed at $13.64.

Analysts Set New Price Targets

NMRA has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research note on Friday, October 18th. JPMorgan Chase & Co. cut Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Finally, HC Wainwright began coverage on shares of Neumora Therapeutics in a research note on Tuesday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Neumora Therapeutics has an average rating of “Moderate Buy” and an average target price of $21.67.

Neumora Therapeutics Stock Performance

The firm has a 50-day moving average price of $13.07 and a 200-day moving average price of $11.40. The stock has a market cap of $1.81 billion, a PE ratio of -5.33 and a beta of 3.92.

Insider Transactions at Neumora Therapeutics

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction dated Wednesday, October 9th. The stock was 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 directly owns 322,966 shares in the company, valued at approximately $4,847,719.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Joshua Pinto sold 31,642 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.78, for a total transaction of $372,742.76. Following the transaction, the chief financial officer now owns 154,658 shares of the company’s stock, valued at approximately $1,821,871.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,538 shares of company stock valued at $1,390,513 in the last ninety days. Corporate insiders own 26.40% of the company’s stock.

Institutional Trading of Neumora Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in NMRA. Cerity Partners LLC acquired a new stake in Neumora Therapeutics in the third quarter valued at approximately $3,209,000. Charles Schwab Investment Management Inc. lifted its position in Neumora Therapeutics by 139.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock worth $9,224,000 after buying an additional 406,891 shares in the last quarter. Intech Investment Management LLC acquired a new position in Neumora Therapeutics during the 3rd quarter valued at about $175,000. Auour Investments LLC acquired a new stake in shares of Neumora Therapeutics in the 3rd quarter valued at approximately $3,302,000. Finally, Ballentine Partners LLC bought a new stake in Neumora Therapeutics during the 3rd quarter worth approximately $178,000. 47.65% of the stock is currently owned by institutional investors.

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.