Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down – Here’s What Happened

Neumora Therapeutics, Inc. (NASDAQ:NMRA) gapped down prior to trading on Tuesday . The stock had previously closed at $11.71, but opened at $11.02. Neumora Therapeutics shares last traded at $11.26, with a volume of 172,449 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright assumed coverage on shares of Neumora Therapeutics in a research report on Tuesday, October 1st. They issued a “buy” rating and a $30.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research report on Friday, October 18th. Mizuho initiated coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $15.00 in a report on Tuesday. Two research analysts have 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 a consensus rating of “Moderate Buy” and an average target price of $21.67.

Neumora Therapeutics Stock Down 6.1 %

The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -4.57 and a beta of 3.92. The firm’s 50 day moving average is $12.92 and its 200 day moving average is $11.29.

Neumora Therapeutics (NASDAQ:NMRA) last released its earnings results on Tuesday, August 6th. The company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). On average, sell-side analysts predict that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Insider Activity at Neumora Therapeutics

In related news, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $342,303. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Joshua Pinto sold 28,496 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total value of $331,408.48. Following the completion of the sale, the chief financial officer now owns 210,469 shares in the company, valued at approximately $2,447,754.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 20,100 shares in the company, valued at approximately $342,303. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,538 shares of company stock valued at $1,390,513 over the last ninety days. Insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NMRA. Price T Rowe Associates Inc. MD acquired a new position in Neumora Therapeutics in the 1st quarter valued at approximately $10,354,000. Baker BROS. Advisors LP acquired a new position in Neumora Therapeutics in the 1st quarter valued at approximately $8,715,000. Callan Capital LLC increased its stake in Neumora Therapeutics by 222.6% in the 2nd 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 period. Artal Group S.A. increased its stake in Neumora Therapeutics by 14.5% in the 1st quarter. Artal Group S.A. now owns 2,924,052 shares of the company’s stock valued at $40,206,000 after buying an additional 371,350 shares during the period. Finally, Auour Investments LLC acquired a new position in shares of Neumora Therapeutics during the 3rd quarter worth $3,302,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

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.