Neumora Therapeutics (NASDAQ:NMRA) Shares Gap Down – Time to Sell?

Neumora Therapeutics, Inc. (NASDAQ:NMRA)’s share price gapped down before the market opened on Monday . The stock had previously closed at $3.49, but opened at $2.85. Neumora Therapeutics shares last traded at $3.1350, with a volume of 1,088,327 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Neumora Therapeutics in a research report on Thursday, January 22nd. Leerink Partners initiated coverage on Neumora Therapeutics in a research report on Monday, January 12th. They issued an “outperform” rating and a $8.00 price target for the company. Royal Bank Of Canada upgraded Neumora Therapeutics from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $4.00 to $7.00 in a research report on Monday, December 1st. William Blair raised Neumora Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 17th. Finally, Mizuho set a $6.00 target price on Neumora Therapeutics in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.13.

Neumora Therapeutics Stock Performance

The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $2.37 and a 200 day moving average price of $2.15. The firm has a market capitalization of $540.54 million, a PE ratio of -2.20 and a beta of 2.46.

Insider Buying and Selling

In other Neumora Therapeutics news, insider Paul L. Berns sold 9,819 shares of Neumora Therapeutics stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $3.51, for a total value of $34,464.69. Following the completion of the transaction, the insider directly owned 7,395,185 shares of the company’s stock, valued at $25,957,099.35. The trade was a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 23,387 shares of company stock worth $82,647. Company insiders own 26.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaCore Capital LLC acquired a new position in Neumora Therapeutics during the 2nd quarter worth $248,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of Neumora Therapeutics in the 2nd quarter valued at about $29,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Neumora Therapeutics during the 2nd quarter worth about $41,000. Savant Capital LLC purchased a new stake in Neumora Therapeutics during the second quarter worth approximately $52,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Neumora Therapeutics in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 47.65% of the company’s stock.

About Neumora Therapeutics

Neumora Therapeutics, headquartered in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing precision therapies for disorders of the central nervous system. The company applies an integrated approach that combines advanced biological insights, single-cell genomics and machine learning to accelerate the discovery and development of novel treatments for neurological and psychiatric diseases.

Neumora’s product pipeline spans small molecules, biologics and gene-based modalities targeting areas of high unmet need such as neurodegenerative conditions, mood and anxiety disorders, neuropathic pain and movement disorders.