Neumora Therapeutics, Inc. (NASDAQ:NMRA) has reported that Robert A. Lenz, the company's Head of R&D, sold shares of the company's stock on two separate occasions. The transactions, which took place on October 9 and 10, 2024, resulted in a total sale value of over $208,000.
On the first day, Lenz sold 5,563 shares at a weighted average price of $15.0112, with individual sale prices ranging from $15.00 to $15.065. The following day, an additional 8,260 shares were sold at a weighted average of $15.0851, with the range of sale prices extending from $15.00 to $15.2435.
These sales were executed under a Rule 10b5-1 trading plan, which Lenz had adopted on June 12, 2024. Such plans allow company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of material non-public information, providing a defense against accusations of insider trading.
Following these transactions, Lenz still holds a significant amount of Neumora Therapeutics stock, with 314,706 shares remaining in his possession. The company, which specializes in biological products, has its operations based in Watertown, Massachusetts.
Investors and interested parties can request more detailed information about the transactions from the Securities and Exchange Commission staff, Neumora Therapeutics, or a security holder of the company, as Lenz has undertaken to provide full details upon request.
In other recent news, Neumora Therapeutics has made significant strides in its clinical trials. The company's leading drug candidate, navacaprant, is currently in Phase 3 studies for the treatment of major depressive disorder (MDD). Mizuho Securities and RBC (TSX:RY) Capital both maintain an Outperform rating on Neumora, expressing optimism for the ongoing Phase III clinical trials of navacaprant. Simultaneously, Neumora has initiated a Phase 2 study for navacaprant, focusing on its potential in treating depression associated with bipolar II disorder, with topline data anticipated in the second half of 2025. Additionally, Neumora is developing NMRA-511 for Alzheimer's disease-related agitation. However, the U.S. Food and Drug Administration (FDA) has placed a clinical hold on the Phase 1 trial of NMRA-266, another investigational treatment from Neumora, due to safety concerns. These developments highlight Neumora's commitment to advancing treatments for major depressive disorder and other central nervous system disorders.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on Neumora Therapeutics' financial position and market performance, providing context to Robert A. Lenz's recent stock sales.
Despite the company's recent stock sales by its Head of R&D, Neumora Therapeutics has shown strong market performance. InvestingPro data reveals that the company has experienced a robust 35.09% price return over the past month and an impressive 52.78% return over the last year. This positive momentum might explain the timing of Lenz's stock sales, potentially capitalizing on the recent price appreciation.
However, it's important to note that Neumora Therapeutics faces some financial challenges. An InvestingPro Tip indicates that the company is not expected to be profitable this year, which aligns with the reported adjusted operating income of -$230.86 million for the last twelve months as of Q2 2024. This financial situation might be a factor for investors to consider when evaluating the company's long-term prospects.
On a positive note, another InvestingPro Tip highlights that Neumora Therapeutics holds more cash than debt on its balance sheet, suggesting a relatively strong liquidity position. This could provide the company with financial flexibility as it continues its research and development efforts in biological products.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Neumora Therapeutics, providing a deeper understanding of the company's financial health and market position.
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