Stock Traders Buy Large Volume of Put Options on Neumora Therapeutics (NASDAQ:NMRA)

Neumora Therapeutics, Inc. (NASDAQ:NMRA) saw unusually large options trading on Thursday. Traders acquired 12,405 put options on the stock. This is an increase of 1,007% compared to the average daily volume of 1,121 put options.

Institutional Investors Weigh In On Neumora Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of NMRA. Perceptive Advisors LLC bought a new position in shares of Neumora Therapeutics during the first quarter worth approximately $9,953,000. Bank of America Corp DE increased its stake in Neumora Therapeutics by 72.8% during the 1st quarter. Bank of America Corp DE now owns 176,927 shares of the company’s stock worth $345,000 after acquiring an additional 74,518 shares during the period. Siren L.L.C. increased its stake in 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 acquiring an additional 2,209,039 shares during the period. Dimensional Fund Advisors LP raised its holdings in Neumora Therapeutics by 230.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 354,850 shares of the company’s stock valued at $692,000 after acquiring an additional 247,600 shares in the last quarter. Finally, SkyOak Wealth LLC lifted its position in shares of Neumora Therapeutics by 50.0% during the 1st quarter. SkyOak Wealth LLC now owns 150,000 shares of the company’s stock valued at $292,000 after acquiring an additional 50,000 shares during the period. Institutional investors and hedge funds own 47.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Neumora Therapeutics in a research note on Tuesday, March 31st. Royal Bank Of Canada decreased 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, July 13th. HC Wainwright lowered their price objective on shares of Neumora Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Needham & Company LLC cut their price objective 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. Finally, Mizuho reduced their target price on shares of Neumora Therapeutics from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, Neumora Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

Neumora Therapeutics Stock Performance

NASDAQ NMRA opened at $1.61 on Friday. The stock has a market cap of $298.30 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 quick ratio of 5.09 and a current ratio of 5.09. The firm has a 50-day moving average of $1.68 and a 200-day moving average of $2.17. Neumora Therapeutics has a 52-week low of $0.83 and a 52-week high of $3.65.

Neumora Therapeutics (NASDAQ:NMRA) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. On average, sell-side analysts anticipate that Neumora Therapeutics will post -0.93 EPS 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.