Neumora Therapeutics (NASDAQ:NMRA) Sees Large Volume Increase – Still a Buy?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares saw unusually-strong trading volume on Wednesday . Approximately 625,489 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 686,368 shares.The stock last traded at $13.07 and had previously closed at $13.96.

Analysts Set New Price Targets

Several brokerages have issued reports on NMRA. Mizuho assumed coverage on shares of Neumora Therapeutics in a research report on Monday, July 8th. They set an “outperform” rating and a $20.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Finally, HC Wainwright started coverage on Neumora Therapeutics in a research report on Tuesday, October 1st. They set a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Neumora Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $22.83.

Neumora Therapeutics Price Performance

The firm’s 50-day simple moving average is $12.84 and its 200 day simple moving average is $11.33. The firm has a market capitalization of $2.10 billion and a price-to-earnings ratio of -5.45.

Neumora Therapeutics (NASDAQ:NMRA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, hitting the consensus estimate of ($0.37). As a group, research analysts predict that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the completion of the transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Joshua Pinto sold 31,642 shares of Neumora Therapeutics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the sale, the chief financial officer now owns 154,658 shares in the company, valued at $1,821,871.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew K. Fust sold 14,049 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $17.03, for a total transaction of $239,254.47. Following the transaction, the director now directly owns 20,100 shares in the company, valued at approximately $342,303. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,538 shares of company stock valued at $1,390,513. 26.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NMRA. Price T Rowe Associates Inc. MD bought a new position in shares of Neumora Therapeutics in the 1st quarter worth $10,354,000. Baker BROS. Advisors LP bought a new position in shares of Neumora Therapeutics in the first quarter valued at $8,715,000. Callan Capital LLC grew its holdings 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. Artal Group S.A. increased its position in shares of Neumora Therapeutics by 14.5% during the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock worth $40,206,000 after acquiring an additional 371,350 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Neumora Therapeutics by 474.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock worth $2,316,000 after acquiring an additional 194,559 shares during the last quarter. 47.65% of the stock is 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.