Neumora Therapeutics (NASDAQ:NMRA) Shares Down 3% - Time to Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report)'s share price fell 3% during mid-day trading on Tuesday . The stock traded as low as $10.58 and last traded at $10.79. 68,888 shares changed hands during trading, a decline of 91% from the average session volume of 748,016 shares. The stock had previously closed at $11.12.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $29.00 target price on shares of Neumora Therapeutics in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $18.00 to $15.00 in a research note on Tuesday, November 5th. Finally, HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Neumora Therapeutics in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.40.

Neumora Therapeutics Stock Performance

The stock's fifty day simple moving average is $11.52 and its 200-day simple moving average is $11.56. The stock has a market cap of $1.72 billion, a P/E ratio of -5.68 and a beta of 3.34.

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 business earned ($1.14) earnings per share. As a group, equities research analysts forecast that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Robert A. Lenz sold 5,563 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $15.01, for a total transaction of $83,500.63. Following the completion of the transaction, the insider now owns 322,966 shares of the company's stock, valued at approximately $4,847,719.66. The trade was a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $17.03, for a total value of $239,254.47. Following the sale, the director now owns 20,100 shares of the company's stock, 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 currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NMRA. Barclays PLC grew its stake in shares of Neumora Therapeutics by 352.9% during the third quarter. Barclays PLC now owns 129,210 shares of the company's stock worth $1,708,000 after buying an additional 100,678 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Neumora Therapeutics by 54.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company's stock valued at $26,159,000 after acquiring an additional 694,385 shares in the last quarter. Wexford Capital LP grew its position in Neumora Therapeutics by 90.1% during the 3rd quarter. Wexford Capital LP now owns 217,879 shares of the company's stock worth $2,878,000 after acquiring an additional 103,285 shares during the last quarter. State Street Corp increased its holdings in Neumora Therapeutics by 65.3% in the 3rd quarter. State Street Corp now owns 1,790,707 shares of the company's stock worth $23,655,000 after purchasing an additional 707,409 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Neumora Therapeutics in the third quarter valued at about $1,097,000. Institutional investors and hedge funds 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.