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

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.83 and last traded at $1.97, with a volume of 44511355 shares trading hands. The stock had previously closed at $10.60.

Analyst Ratings Changes

NMRA has been the topic of several analyst reports. JPMorgan Chase & Co. cut Neumora Therapeutics from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Needham & Company LLC reissued a "buy" rating and issued a $23.00 target price on shares of Neumora Therapeutics in a report on Thursday. HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of Neumora Therapeutics in a research note on Monday, December 16th. Finally, Royal Bank of Canada downgraded Neumora Therapeutics from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $29.00 to $4.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Neumora Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $18.40.

Neumora Therapeutics Trading Down 81.4 %

The stock has a market capitalization of $318.28 million, a PE ratio of -1.05 and a beta of 3.34. The business's 50-day moving average is $10.89 and its two-hundred day moving average is $11.59.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.06). During the same period last year, the company posted ($1.14) EPS. On average, analysts predict that Neumora Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Activity

In other news, Director Matthew K. Fust sold 14,049 shares of the 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 transaction, the director now owns 20,100 shares in the company, valued at $342,303. This represents a 41.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert A. Lenz sold 5,563 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total value of $83,500.63. Following the completion of the sale, the insider now directly owns 322,966 shares of the company's stock, valued at $4,847,719.66. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company's stock.

Hedge Funds Weigh In On Neumora Therapeutics

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of Neumora Therapeutics by 474.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company's stock valued at $2,316,000 after purchasing an additional 194,559 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Neumora Therapeutics in the second quarter valued at about $166,000. Rhumbline Advisers grew its position in shares of Neumora Therapeutics by 488.3% during the 2nd quarter. Rhumbline Advisers now owns 103,258 shares of the company's stock worth $1,015,000 after buying an additional 85,706 shares during the period. TD Asset Management Inc increased its stake in shares of Neumora Therapeutics by 31.6% in the 2nd quarter. TD Asset Management Inc now owns 144,994 shares of the company's stock valued at $1,425,000 after acquiring an additional 34,800 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company's stock valued at $29,000 after acquiring an additional 2,402 shares during the period. 47.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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