Neumora Therapeutics (NASDAQ:NMRA) Hits New 52-Week Low – What’s Next?

Shares of Neumora Therapeutics, Inc. (NASDAQ:NMRA) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.83 and last traded at $1.97, with a volume of 44511355 shares trading hands. The stock had previously closed at $10.60.

Wall Street Analysts Forecast Growth

NMRA has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Neumora Therapeutics in a research note on Thursday. Royal Bank of Canada lowered Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $29.00 to $4.00 in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $15.00 in a report on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a report on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Neumora Therapeutics has an average rating of “Moderate Buy” and an average target price of $18.40.

Neumora Therapeutics Stock Performance

The company has a market capitalization of $350.59 million, a P/E ratio of -1.16 and a beta of 3.34. The stock has a 50 day moving average price of $10.47 and a 200 day moving average price of $11.48.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings data 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 quarter last year, the firm posted ($1.14) earnings per share. As a group, sell-side analysts expect that Neumora Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NMRA. JPMorgan Chase & Co. grew its stake in shares of Neumora Therapeutics by 2.6% in the third quarter. JPMorgan Chase & Co. now owns 64,421 shares of the company’s stock worth $851,000 after purchasing an additional 1,629 shares during the last quarter. Amalgamated Bank raised its holdings in Neumora Therapeutics by 472.8% in the 2nd quarter. Amalgamated Bank now owns 2,910 shares of the company’s stock worth $29,000 after purchasing an additional 2,402 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Neumora Therapeutics by 35.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,600 shares of the company’s stock valued at $351,000 after purchasing an additional 6,900 shares in the last quarter. Quarry LP purchased a new position in shares of Neumora Therapeutics during the second quarter valued at about $98,000. Finally, Intech Investment Management LLC purchased a new stake in Neumora Therapeutics in the third quarter worth about $175,000. 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.