Neumora Therapeutics (NASDAQ:NMRA) Hits New 1-Year Low – Time to Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.83 and last traded at $1.97, with a volume of 44511355 shares traded. The stock had previously closed at $10.60.

Analyst Ratings Changes

Several research analysts have recently issued reports on NMRA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Neumora Therapeutics in a research note on Thursday. JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $15.00 in a research report on Tuesday, November 5th. Royal Bank of Canada lowered Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $29.00 to $4.00 in a research report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a report on Friday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Neumora Therapeutics Trading Up 10.2 %

The stock has a market cap of $350.59 million, a P/E ratio of -1.16 and a beta of 3.34. The firm has a 50-day simple moving average of $10.47 and a two-hundred day simple moving average of $11.48.

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

Insider Transactions at Neumora Therapeutics

In other Neumora Therapeutics news, insider Robert A. Lenz sold 5,563 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the sale, the insider now owns 322,966 shares of the company’s stock, valued at approximately $4,847,719.66. This represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of the company’s 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 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. 26.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Neumora Therapeutics by 54.0% in the third 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 in the last quarter. State Street Corp raised its stake in Neumora Therapeutics by 65.3% during the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company’s stock worth $23,655,000 after buying an additional 707,409 shares during the period. Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 406,891 shares during the period. Callan Capital LLC raised 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 worth $6,500,000 after purchasing an additional 456,207 shares during the period. Finally, Auour Investments LLC bought a new position in shares of Neumora Therapeutics in 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.