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

Neumora Therapeutics, Inc. (NASDAQ:NMRA) was the target of some unusual options trading on Thursday. Investors bought 12,405 put options on the company. This is an increase of approximately 1,007% compared to the average daily volume of 1,121 put options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of Neumora Therapeutics in the 4th quarter valued at $27,000. Virtu Financial LLC acquired a new position in shares of Neumora Therapeutics during the third quarter worth $31,000. Legacy Private Trust Co. increased its holdings in Neumora Therapeutics by 35.7% in the fourth quarter. Legacy Private Trust Co. now owns 19,000 shares of the company’s stock valued at $34,000 after buying an additional 5,000 shares during the last quarter. Fred Alger Management LLC purchased a new position in Neumora Therapeutics in the fourth quarter valued at $40,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Neumora Therapeutics in the second quarter valued at $41,000. Institutional investors and hedge funds own 47.65% of the company’s stock.

Neumora Therapeutics Stock Down 1.0%

NMRA traded down $0.02 on Thursday, hitting $1.61. 116,689 shares of the company were exchanged, compared to its average volume of 1,915,881. The firm has a 50-day moving average price of $1.69 and a two-hundred day moving average price of $2.18. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.75. Neumora Therapeutics has a twelve month low of $0.83 and a twelve month high of $3.65. The company has a market cap of $298.86 million, a price-to-earnings ratio of -1.21 and a beta of 2.74.

Neumora Therapeutics (NASDAQ:NMRA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. On average, equities analysts predict that Neumora Therapeutics will post -0.93 earnings per share for the current year.

Analysts Set New Price Targets

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

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.