Neumora Therapeutics (NASDAQ:NMRA) Shares Down 5.6% – Should You Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares fell 5.6% during mid-day trading on Monday . The stock traded as low as $10.23 and last traded at $10.23. 504,518 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 729,501 shares. The stock had previously closed at $10.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NMRA shares. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Neumora Therapeutics in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Neumora Therapeutics Stock Down 9.2 %

The stock has a market capitalization of $1.59 billion, a P/E ratio of -5.83 and a beta of 3.92. The business’s 50 day simple moving average is $13.10 and its two-hundred day simple moving average is $11.45.

Neumora Therapeutics (NASDAQ:NMRA) last announced 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 quarter last year, the company earned ($1.14) EPS. Analysts predict that Neumora Therapeutics, Inc. will post -1.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Joshua Pinto sold 31,642 shares of the business’s stock in a transaction dated 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 directly owns 154,658 shares in the company, valued at approximately $1,821,871.24. The trade was a 16.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert A. Lenz sold 30,788 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the completion of the sale, the insider now owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. This trade represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,538 shares of company stock worth $1,390,513. 26.40% of the stock is owned by corporate insiders.

Institutional Trading of Neumora Therapeutics

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock valued at $26,159,000 after purchasing an additional 694,385 shares during the period. Barclays PLC boosted its holdings in shares of Neumora Therapeutics by 352.9% in the 3rd quarter. Barclays PLC now owns 129,210 shares of the company’s stock worth $1,708,000 after buying an additional 100,678 shares during the last quarter. Wexford Capital LP grew its position in Neumora Therapeutics by 90.1% during the third quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock valued at $2,878,000 after buying an additional 103,285 shares during the period. State Street Corp raised its position in Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after acquiring an additional 707,409 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Neumora Therapeutics in the third quarter worth about $1,097,000. 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.