Neumora Therapeutics Target of Unusually Large Options Trading (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the target of unusually large options trading activity on Monday. Stock traders bought 3,760 put options on the stock. This represents an increase of approximately 47% compared to the typical volume of 2,556 put options.

Wall Street Analysts Forecast Growth

NMRA has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and set a $29.00 price target on shares of Neumora Therapeutics in a report on Friday, November 22nd. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a report on Monday, December 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.40.

Insider Transactions at Neumora Therapeutics

In other news, insider Robert A. Lenz sold 5,563 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $17.03, for a total transaction of $239,254.47. Following the sale, the director now owns 20,100 shares in the company, valued at approximately $342,303. This 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.

Hedge Funds Weigh In On Neumora Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings 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 purchasing an additional 406,891 shares during the period. Point72 Asset Management L.P. acquired a new stake in Neumora Therapeutics during the third quarter worth about $1,097,000. Callan Capital LLC increased its stake in Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock valued at $6,500,000 after acquiring an additional 456,207 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Neumora Therapeutics by 79.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company’s stock valued at $1,099,000 after acquiring an additional 49,527 shares in the last quarter. Finally, Wexford Capital LP lifted its position in shares of Neumora Therapeutics by 90.1% in the 3rd quarter. Wexford Capital LP now owns 217,879 shares of the company’s stock worth $2,878,000 after acquiring an additional 103,285 shares during the period. Institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Stock Performance

Shares of NMRA stock opened at $10.63 on Wednesday. The stock’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $11.56. Neumora Therapeutics has a twelve month low of $8.33 and a twelve month high of $21.00. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -5.68 and a beta of 3.34.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). During the same quarter in the prior year, the company posted ($1.14) EPS. On average, analysts forecast that Neumora Therapeutics will post -1.61 EPS 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.