Neumora Therapeutics Sees Unusually Large Options Volume (NASDAQ:NMRA)

Key Points

• Investors purchased 2,812 call options on NMRA on Monday, a roughly 309% increase over the typical 687-call volume, indicating unusually high bullish options activity.
• Shares traded down to $2.01 with a market cap around $335M and a negative P/E (-1.37); the company missed quarterly EPS at ($0.35) vs. consensus ($0.34), while analysts remain mixed with an average target of $6.71.
• Insider Paul L. Berns sold 9,819 shares in February, and ownership is concentrated with insiders and institutions holding about 26.8% and 47.65% of the stock, respectively.

Neumora Therapeutics, Inc. (NASDAQ:NMRA - Get Free Report) saw some unusual options trading activity on Monday. Investors purchased 2,812 call options on the company. This is an increase of approximately 309% compared to the typical volume of 687 call options.

Neumora Therapeutics Stock Performance

NASDAQ NMRA traded down $0.33 during trading hours on Monday, hitting $2.01. The company's stock had a trading volume of 1,546,824 shares, compared to its average volume of 1,651,906. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.85 and a quick ratio of 6.85. The company has a market cap of $335.01 million, a P/E ratio of -1.37 and a beta of 2.49. The company's 50 day simple moving average is $2.74 and its two-hundred day simple moving average is $2.32. Neumora Therapeutics has a 12 month low of $0.61 and a 12 month high of $3.65.

Neumora Therapeutics (NASDAQ:NMRA - Get Free Report) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). As a group, sell-side analysts expect that Neumora Therapeutics will post -1.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Leerink Partners initiated coverage on shares of Neumora Therapeutics in a report on Monday, January 12th. They issued an "outperform" rating and a $8.00 price objective for the company. William Blair raised shares of Neumora Therapeutics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Neumora Therapeutics in a research note on Thursday, January 22nd. Royal Bank Of Canada upgraded shares of Neumora Therapeutics from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $4.00 to $7.00 in a report on Monday, December 1st. Finally, Mizuho set a $6.00 target price on shares of Neumora Therapeutics in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $6.71.

Insider Activity at Neumora Therapeutics

In other news, insider Paul L. Berns sold 9,819 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $3.51, for a total transaction of $34,464.69. Following the completion of the sale, the insider owned 7,395,185 shares of the company's stock, valued at approximately $25,957,099.35. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 23,387 shares of company stock worth $82,647. 26.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Neumora Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Private Trust Co. bought a new position in shares of Neumora Therapeutics during the third quarter worth $25,000. Hsbc Holdings PLC bought a new position in shares of Neumora Therapeutics during the 4th quarter valued at about $27,000. Virtu Financial LLC purchased a new position in shares of Neumora Therapeutics during the third quarter valued at about $31,000. Fred Alger Management LLC purchased a new stake in shares of Neumora Therapeutics in the fourth quarter worth about $40,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Neumora Therapeutics in the second quarter worth $41,000. Institutional investors own 47.65% of the company's stock.

Neumora Therapeutics Company Profile

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.

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