Neumora Therapeutics (NASDAQ:NMRA) Sees Unusually-High Trading Volume – Here’s What Happened

Neumora Therapeutics, Inc. (NASDAQ:NMRA) shares saw unusually-strong trading volume on Wednesday . Approximately 625,489 shares changed hands during 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.

Wall Street Analysts Forecast Growth

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

Neumora Therapeutics Trading Down 2.3 %

The stock has a fifty day moving average price of $12.88 and a two-hundred day moving average price of $11.34.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.37) earnings per share for the quarter, hitting the consensus estimate of ($0.37). Research analysts forecast that Neumora Therapeutics, Inc. will post -1.48 EPS for the current fiscal year.

Insider Activity

In other Neumora Therapeutics news, insider Robert A. Lenz sold 30,788 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total transaction of $363,606.28. Following the transaction, the insider now owns 339,205 shares in the company, valued at $4,006,011.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Robert A. Lenz sold 30,788 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $11.81, for a total transaction of $363,606.28. Following the sale, the insider now directly owns 339,205 shares of the company’s stock, valued at approximately $4,006,011.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joshua Pinto sold 31,642 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $11.78, for a total value of $372,742.76. Following the completion of the transaction, the chief financial officer now directly owns 154,658 shares of the company’s stock, valued at approximately $1,821,871.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,538 shares of company stock worth $1,390,513. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Neumora Therapeutics in the 1st quarter valued at $10,354,000. Baker BROS. Advisors LP bought a new position in Neumora Therapeutics in the first quarter valued at about $8,715,000. Callan Capital LLC raised its stake in Neumora Therapeutics by 222.6% during the second quarter. Callan Capital LLC now owns 661,194 shares of the company’s stock worth $6,500,000 after acquiring an additional 456,207 shares in the last quarter. Artal Group S.A. lifted its holdings in shares of 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 acquiring an additional 371,350 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Neumora Therapeutics by 474.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 235,593 shares of the company’s stock valued at $2,316,000 after purchasing an additional 194,559 shares in the last quarter. 47.65% of the stock is 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.