Neumora Therapeutics Target of Unusually Large Options Trading (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the recipient of unusually large options trading on Thursday. Traders acquired 12,405 put options on the stock. This represents an increase of approximately 1,007% compared to the typical volume of 1,121 put options.

Institutional Trading of Neumora Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Perceptive Advisors LLC acquired a new position in Neumora Therapeutics in the 1st quarter valued at about $9,953,000. Bank of America Corp DE raised its holdings in Neumora Therapeutics by 72.8% in the 1st quarter. Bank of America Corp DE now owns 176,927 shares of the company’s stock valued at $345,000 after acquiring an additional 74,518 shares during the last quarter. Siren L.L.C. lifted its stake in shares of Neumora Therapeutics by 35.1% during the 1st quarter. Siren L.L.C. now owns 8,497,822 shares of the company’s stock worth $16,571,000 after purchasing an additional 2,209,039 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Neumora Therapeutics by 230.9% during the first quarter. Dimensional Fund Advisors LP now owns 354,850 shares of the company’s stock worth $692,000 after purchasing an additional 247,600 shares during the last quarter. Finally, SkyOak Wealth LLC grew its position in shares of Neumora Therapeutics by 50.0% in the first quarter. SkyOak Wealth LLC now owns 150,000 shares of the company’s stock valued at $292,000 after purchasing an additional 50,000 shares during the period. 47.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NMRA has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their price target on shares of Neumora Therapeutics from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday. Mizuho reduced their price objective on shares of Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, June 18th. Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Neumora Therapeutics in a report on Tuesday, March 31st. HC Wainwright lowered their target price on shares of Neumora Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Finally, Needham & Company LLC dropped their target price on shares of Neumora Therapeutics from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.57.

Neumora Therapeutics Stock Performance

Shares of NMRA traded down $0.02 during mid-day trading on Thursday, reaching $1.61. 116,689 shares of the company’s stock were exchanged, compared to its average volume of 1,915,881. The business’s fifty day simple moving average is $1.69 and its 200-day simple moving average is $2.18. Neumora Therapeutics has a 52-week low of $0.83 and a 52-week high of $3.65. The stock has a market capitalization of $298.86 million, a PE ratio of -1.21 and a beta of 2.74. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.09 and a quick ratio of 5.09.

Neumora Therapeutics (NASDAQ:NMRA) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.02. On average, equities research analysts expect that Neumora Therapeutics will post -0.93 earnings per share for the current year.

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.