Investors Buy Large Volume of Call Options on Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the recipient of some unusual options trading on Monday. Stock traders purchased 5,936 call options on the stock. This is an increase of 45% compared to the typical daily volume of 4,096 call options.

Neumora Therapeutics Trading Up 6.5 %

Shares of NMRA traded up $0.14 during mid-day trading on Monday, hitting $2.31. The company’s stock had a trading volume of 5,082,745 shares, compared to its average volume of 24,103,807. Neumora Therapeutics has a 1-year low of $1.83 and a 1-year high of $21.00. The firm has a market capitalization of $373.34 million, a P/E ratio of -1.24 and a beta of 3.34. The firm has a 50-day simple moving average of $10.47 and a 200 day simple moving average of $11.51.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period in the prior year, the firm posted ($1.14) EPS. As a group, sell-side analysts predict that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Insider Activity at Neumora Therapeutics

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the firm’s 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 transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $239,254.47. Following the completion of the sale, the director now owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Neumora Therapeutics by 54.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company’s stock worth $26,159,000 after acquiring an additional 694,385 shares during the period. State Street Corp increased its position in shares of Neumora Therapeutics by 65.3% in the third quarter. State Street Corp now owns 1,790,707 shares of the company’s stock valued at $23,655,000 after buying an additional 707,409 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 during the last quarter. Callan Capital LLC boosted its position in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after buying an additional 456,207 shares in the last quarter. Finally, Auour Investments LLC purchased a new position in Neumora Therapeutics during the 3rd quarter valued at about $3,302,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NMRA has been the subject of a number of research analyst reports. Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $29.00 to $4.00 in a report on Thursday. Bank of America lowered their price objective on shares of Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a research report on Monday. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Friday. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.