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

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s stock price 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 trading hands.

Analyst Ratings Changes

NMRA has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target 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 price target on shares of Neumora Therapeutics in a research note on Wednesday, September 4th. HC Wainwright started coverage on shares of Neumora Therapeutics in a research report on Tuesday, October 1st. They set a “buy” rating and a $30.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered Neumora Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $15.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Neumora Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Neumora Therapeutics Trading Up 6.7 %

The company’s fifty day moving average is $12.95 and its two-hundred day moving average is $11.31. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -4.96 and a beta of 3.92.

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

Insider Activity

In other Neumora Therapeutics news, insider Robert A. Lenz sold 30,788 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $11.81, for a total transaction of $363,606.28. Following the sale, the insider now directly owns 339,205 shares in the company, valued at $4,006,011.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Robert A. Lenz sold 30,788 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total transaction of $363,606.28. Following the sale, the insider now owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joshua Pinto sold 28,496 shares of Neumora Therapeutics stock in a transaction 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 transaction, the chief financial officer now owns 210,469 shares of the company’s stock, valued at approximately $2,447,754.47. This trade 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 sold 110,538 shares of company stock valued at $1,390,513. 26.40% of the stock is currently owned by company insiders.

Institutional Trading of Neumora Therapeutics

A number of large investors have recently made changes to their positions in the company. Nan Fung Group Holdings Ltd acquired a new position in Neumora Therapeutics during the 1st quarter worth approximately $871,000. Price T Rowe Associates Inc. MD acquired a new stake in Neumora Therapeutics in the first quarter valued at $10,354,000. Baker BROS. Advisors LP purchased a new stake in Neumora Therapeutics during the 1st quarter worth about $8,715,000. Kennedy Capital Management LLC acquired a new position in shares of Neumora Therapeutics during the 1st quarter worth about $1,881,000. Finally, Artal Group S.A. increased its holdings in shares of 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 acquiring an additional 371,350 shares during the last quarter. 47.65% of the stock is currently owned by hedge funds and other 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.