Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down - Here's Why

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.71, but opened at $11.02. Neumora Therapeutics shares last traded at $11.26, with a volume of 172,449 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NMRA shares. HC Wainwright started coverage on shares of Neumora Therapeutics in a report on Tuesday, October 1st. They issued a "buy" rating and a $30.00 price target for the company. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $18.00 to $15.00 in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $23.00 price target on shares of Neumora Therapeutics in a report on Friday, October 18th. Mizuho started coverage on shares of Neumora Therapeutics in a report on Monday, July 8th. They issued an "outperform" rating and a $20.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $29.00 price target on shares of Neumora Therapeutics in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Neumora Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $21.67.

Neumora Therapeutics Stock Up 1.7 %

The firm has a market cap of $1.91 billion, a P/E ratio of -4.65 and a beta of 3.92. The company's 50 day simple moving average is $12.92 and its 200-day simple moving average is $11.30.

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

Insider Transactions at Neumora Therapeutics

In other news, CFO Joshua Pinto sold 28,496 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total transaction of $331,408.48. Following the transaction, the chief financial officer now directly owns 210,469 shares of the company's stock, valued at approximately $2,447,754.47. This trade represents 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 this link. In related news, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction that occurred 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 directly owns 20,100 shares of the company's stock, valued at $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joshua Pinto sold 28,496 shares of Neumora Therapeutics stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $11.63, for a total transaction of $331,408.48. Following the transaction, the chief financial officer now directly owns 210,469 shares in the company, valued at approximately $2,447,754.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,538 shares of company stock valued at $1,390,513. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of NMRA. Nan Fung Group Holdings Ltd purchased a new position in Neumora Therapeutics in the first quarter worth $871,000. Price T Rowe Associates Inc. MD purchased a new position in Neumora Therapeutics in the first quarter worth $10,354,000. Baker BROS. Advisors LP purchased a new position in Neumora Therapeutics in the first quarter worth $8,715,000. Kennedy Capital Management LLC purchased a new position in Neumora Therapeutics in the first quarter worth $1,881,000. Finally, Artal Group S.A. grew its holdings in Neumora Therapeutics by 14.5% in the first quarter. Artal Group S.A. now owns 2,924,052 shares of the company's stock worth $40,206,000 after purchasing an additional 371,350 shares during the last quarter. 47.65% of the stock is owned by hedge funds and other institutional investors.

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.