Neumora Therapeutics (NASDAQ:NMRA) Sees Large Volume Increase – Here’s What Happened

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw an uptick in trading volume on Wednesday . 625,489 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 686,368 shares.The stock last traded at $13.07 and had previously closed at $13.96.

Analyst Ratings Changes

NMRA has been the subject of a number of recent analyst reports. Mizuho assumed coverage on Neumora Therapeutics in a research note on Monday, July 8th. They issued an “outperform” rating and a $20.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Neumora Therapeutics in a research report on Friday, October 18th. HC Wainwright assumed coverage on Neumora Therapeutics in a research note on Tuesday, October 1st. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Neumora Therapeutics in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Neumora Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $22.83.

Neumora Therapeutics Stock Down 5.7 %

The company has a market capitalization of $2.10 billion and a PE ratio of -5.45. The company has a 50-day moving average price of $12.84 and a two-hundred day moving average price of $11.33.

Neumora Therapeutics (NASDAQ:NMRA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.37). As a group, equities analysts anticipate that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Neumora Therapeutics news, Director Matthew K. Fust sold 14,049 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were 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 $342,303. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Robert A. Lenz sold 30,788 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total value of $363,606.28. Following the completion of the sale, the insider now owns 339,205 shares in the company, valued at $4,006,011.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew K. Fust sold 14,049 shares of Neumora Therapeutics stock in a transaction that occurred 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 transaction, the director now directly owns 20,100 shares in the company, valued at $342,303. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,538 shares of company stock valued at $1,390,513. Company insiders own 26.40% of the company’s stock.

Hedge Funds Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank grew 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 worth $29,000 after acquiring an additional 2,402 shares during the period. Handelsbanken Fonder AB grew its stake in Neumora Therapeutics by 35.0% in the third quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock worth $351,000 after purchasing an additional 6,900 shares during the period. Quarry LP bought a new position in Neumora Therapeutics in the second quarter worth $98,000. SkyOak Wealth LLC purchased a new position in Neumora Therapeutics during the second quarter valued at $147,000. Finally, Principal Financial Group Inc. purchased a new position in Neumora Therapeutics during the second quarter valued at $166,000. Institutional investors 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.