Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down on Insider Selling

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) shares gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $16.49, but opened at $16.00. Neumora Therapeutics shares last traded at $14.81, with a volume of 170,838 shares traded.

Specifically, Director Matthew K. Fust sold 14,049 shares of the 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 sale, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

NMRA has been the subject of several recent analyst reports. HC Wainwright initiated coverage on shares of Neumora Therapeutics in a research note on Tuesday, October 1st. They issued a "buy" rating and a $30.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Friday. Mizuho initiated coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an "outperform" rating and a $20.00 target price for the company. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Neumora Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $22.83.

Neumora Therapeutics Trading Down 14.8 %

The stock has a market cap of $2.24 billion and a price-to-earnings ratio of -5.49. The company has a 50 day simple moving average of $12.79 and a 200-day simple moving average of $11.33.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) 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). Equities analysts forecast that Neumora Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neumora Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clarius Group LLC acquired a new position in Neumora Therapeutics during the third quarter worth $224,000. Handelsbanken Fonder AB raised its holdings in shares of Neumora Therapeutics by 35.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company's stock valued at $351,000 after purchasing an additional 6,900 shares during the period. Quarry LP acquired a new stake in Neumora Therapeutics in the 2nd quarter valued at about $98,000. The Manufacturers Life Insurance Company grew its holdings in Neumora Therapeutics by 79.5% during the second quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company's stock worth $1,099,000 after purchasing an additional 49,527 shares during the period. Finally, Marshall Wace LLP acquired a new position in Neumora Therapeutics during the second quarter worth approximately $1,323,000. Institutional investors own 47.65% of the company's stock.

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.