Neumora Therapeutics (NASDAQ:NMRA) Trading Down 4.3% - Should You Sell?

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) dropped 4.3% on Tuesday . The stock traded as low as $10.48 and last traded at $10.58. Approximately 432,580 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 749,277 shares. The stock had previously closed at $11.06.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NMRA shares. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $18.00 to $15.00 in a research note on Tuesday, November 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $29.00 price target on shares of Neumora Therapeutics in a research note on Friday, November 22nd. Needham & Company LLC reissued a "buy" rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Neumora Therapeutics in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Neumora Therapeutics has an average rating of "Moderate Buy" and an average target price of $23.40.

Neumora Therapeutics Stock Down 4.2 %

The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -5.67 and a beta of 3.34. The business has a 50-day simple moving average of $10.95 and a two-hundred day simple moving average of $11.60.

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

Insider Activity at Neumora Therapeutics

In other news, insider Robert A. Lenz sold 5,563 shares of the company'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 transaction, the insider now owns 322,966 shares in the company, valued at $4,847,719.66. This represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $239,254.47. Following the completion of the transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade 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 corporate insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors have recently bought and sold shares of NMRA. Amalgamated Bank increased its holdings in shares of Neumora Therapeutics by 472.8% during 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 last quarter. Quarry LP acquired a new position in Neumora Therapeutics during the second quarter valued at approximately $98,000. Intech Investment Management LLC acquired a new position in Neumora Therapeutics during the third quarter valued at approximately $175,000. Ballentine Partners LLC bought a new position in shares of Neumora Therapeutics in the third quarter valued at approximately $178,000. Finally, SkyOak Wealth LLC acquired a new stake in shares of Neumora Therapeutics in the second quarter worth $147,000. 47.65% of the stock is currently owned by institutional investors.

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.