Stock Traders Buy Large Volume of Call Options on Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 5,936 call options on the stock. This represents an increase of approximately 45% compared to the typical volume of 4,096 call options.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NMRA. Geode Capital Management LLC lifted its stake in Neumora Therapeutics by 54.0% during the third quarter. Geode Capital Management LLC now owns 1,979,847 shares of the company's stock worth $26,159,000 after purchasing an additional 694,385 shares during the last quarter. Barclays PLC raised its stake in Neumora Therapeutics by 352.9% during the 3rd quarter. Barclays PLC now owns 129,210 shares of the company's stock worth $1,708,000 after acquiring an additional 100,678 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Neumora Therapeutics by 139.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 698,255 shares of the company's stock valued at $9,224,000 after acquiring an additional 406,891 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Neumora Therapeutics in the third quarter valued at $1,097,000. Finally, Callan Capital LLC boosted its stake in Neumora Therapeutics by 222.6% in the second quarter. Callan Capital LLC now owns 661,194 shares of the company's stock valued at $6,500,000 after acquiring an additional 456,207 shares in the last quarter. Hedge funds and other institutional investors own 47.65% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank of Canada downgraded shares of Neumora Therapeutics from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $29.00 to $4.00 in a report on Thursday. Bank of America cut their price target on Neumora Therapeutics from $22.00 to $7.00 and set a "buy" rating for the company in a report on Monday. Needham & Company LLC reissued a "buy" rating and set a $23.00 price objective on shares of Neumora Therapeutics in a research note on Thursday. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research note on Friday. Finally, JPMorgan Chase & Co. lowered Neumora Therapeutics from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.50.

Neumora Therapeutics Stock Up 14.3 %

Shares of NMRA traded up $0.31 during trading on Monday, reaching $2.48. 12,617,920 shares of the company traded hands, compared to its average volume of 26,766,340. Neumora Therapeutics has a twelve month low of $1.83 and a twelve month high of $21.00. The stock has a 50-day simple moving average of $10.28 and a 200-day simple moving average of $11.46. The stock has a market cap of $400.67 million, a PE ratio of -1.33 and a beta of 2.71.

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

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.