Neumora Therapeutics (NASDAQ:NMRA) Trading Down 3% – Should You Sell?

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) dropped 3% on Tuesday . The stock traded as low as $10.58 and last traded at $10.79. Approximately 68,888 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 748,016 shares. The stock had previously closed at $11.12.

Wall Street Analyst Weigh In

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

Neumora Therapeutics Stock Performance

The stock has a market capitalization of $1.72 billion, a P/E ratio of -5.68 and a beta of 3.34. The business has a fifty day simple moving average of $11.29 and a 200-day simple moving average of $11.56.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). During the same period last year, the company earned ($1.14) EPS. On average, sell-side analysts anticipate that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Transactions at Neumora Therapeutics

In related news, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction on Wednesday, October 9th. The stock was 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 in the company, valued at $4,847,719.66. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics 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 completion of the sale, the director now directly owns 20,100 shares of the company’s stock, valued at approximately $342,303. The trade was a 41.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in NMRA. Geode Capital Management LLC boosted its stake in Neumora Therapeutics by 54.0% during 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 last quarter. State Street Corp raised its stake 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 worth $23,655,000 after purchasing an additional 707,409 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company’s stock valued at $9,224,000 after purchasing an additional 406,891 shares in the last quarter. Callan Capital LLC boosted its position in shares of 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 buying an additional 456,207 shares during the last quarter. Finally, Auour Investments LLC bought a new stake in Neumora Therapeutics during the third quarter worth $3,302,000. 47.65% of the stock is 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.