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

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the target of unusually large options trading on Monday. Stock traders bought 5,936 call options on the stock. This is an increase of approximately 45% compared to the average daily volume of 4,096 call options.

Analyst Upgrades and Downgrades

NMRA has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Neumora Therapeutics in a research report on Friday, January 3rd. Bank of America decreased their price objective on Neumora Therapeutics from $22.00 to $7.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada cut Neumora Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $29.00 to $4.00 in a report on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Neumora Therapeutics in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut shares of Neumora Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $15.00 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Neumora Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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 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 represents a 41.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank increased its stake 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 purchasing an additional 2,402 shares during the last quarter. Quarry LP purchased a new stake in Neumora Therapeutics in the second quarter worth $98,000. SkyOak Wealth LLC bought a new stake in shares of Neumora Therapeutics in the second quarter valued at $147,000. Principal Financial Group Inc. purchased a new position in shares of Neumora Therapeutics during the 2nd quarter valued at $166,000. Finally, Intech Investment Management LLC bought a new position in shares of Neumora Therapeutics during the 3rd quarter worth $175,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

Neumora Therapeutics Price Performance

NASDAQ NMRA opened at $2.58 on Wednesday. The company has a fifty day moving average price of $10.10 and a 200-day moving average price of $11.42. Neumora Therapeutics has a 1 year low of $1.83 and a 1 year high of $21.00. The firm has a market cap of $416.83 million, a price-to-earnings ratio of -1.38 and a beta of 2.71.

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 in the previous year, the firm posted ($1.14) EPS. On average, research analysts anticipate that Neumora Therapeutics will post -1.61 EPS for the current fiscal 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.