Neumora Therapeutics (NASDAQ:NMRA) Trading Down 4.5% - Time to Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) dropped 4.5% on Friday . The company traded as low as $12.35 and last traded at $12.41. Approximately 806,385 shares changed hands during trading, an increase of 16% from the average daily volume of 693,138 shares. The stock had previously closed at $13.00.

Analysts Set New Price Targets

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

Neumora Therapeutics Stock Down 5.6 %

The stock has a market capitalization of $1.96 billion and a P/E ratio of -4.77. The company has a 50 day moving average of $12.91 and a 200-day moving average of $11.36.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.37). Equities analysts forecast that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling at Neumora Therapeutics

In other news, Director Matthew K. Fust sold 14,049 shares of the business'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 transaction, the director now owns 20,100 shares of the company's stock, valued at approximately $342,303. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Robert A. Lenz sold 5,563 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the sale, the insider now directly owns 322,966 shares in the company, valued at $4,847,719.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,538 shares of company stock worth $1,390,513. 26.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD acquired a new stake in Neumora Therapeutics in the first quarter worth about $10,354,000. The Manufacturers Life Insurance Company raised its position in shares of Neumora Therapeutics by 79.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 111,828 shares of the company's stock worth $1,099,000 after buying an additional 49,527 shares in the last quarter. Callan Capital LLC lifted its stake in shares of Neumora Therapeutics by 222.6% in the 2nd quarter. Callan Capital LLC now owns 661,194 shares of the company's stock worth $6,500,000 after acquiring an additional 456,207 shares during the period. Rhumbline Advisers boosted its holdings in shares of Neumora Therapeutics by 488.3% in the second quarter. Rhumbline Advisers now owns 103,258 shares of the company's stock valued at $1,015,000 after acquiring an additional 85,706 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Neumora Therapeutics during the second quarter valued at approximately $566,000. Institutional investors 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.