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Michael Milligan, the Chief Financial Officer and Principal Accounting Officer of Neumora Therapeutics , Inc. (NASDAQ:NMRA), has sold a portion of his holdings in the company. According to a recent SEC filing, Milligan sold 1,978 shares of common stock on February 18, 2025, at a weighted average price of $1.6939 per share. This transaction totaled approximately $3,350. The sale comes as NMRA trades near its 52-week low of $1.60, down significantly from its high of $21.00. According to InvestingPro analysis, the stock appears undervalued at current levels.
The sale was conducted under Milligan’s Rule 10b5-1 trading plan, which was adopted on August 30, 2024. This plan allows for the automatic sale of shares to cover tax withholding obligations on vested restricted stock units. Following this transaction, Milligan retains ownership of 22,470 shares in Neumora Therapeutics, a company with a market capitalization of $281 million. InvestingPro data shows the company maintains strong liquidity with a current ratio of 10.98 and holds more cash than debt on its balance sheet. Discover 12 additional key insights about NMRA with an InvestingPro subscription, including detailed analysis in our comprehensive Pro Research Report.
In other recent news, Neumora Therapeutics has announced significant leadership changes, with co-founder Paul L. Berns stepping in as CEO and chairman of the Board, alongside new appointments for president, chief operating and development officer, and chief financial officer. These changes come as the company prepares to discuss its fourth quarter and full-year 2024 financial results in early March 2025. Meanwhile, Neumora has faced challenges with its lead drug candidate, navacaprant, following disappointing Phase 3 trial results for treating major depressive disorder (MDD). As a result, RBC Capital Markets downgraded Neumora’s stock to Sector Perform and slashed the price target to $4.00, citing concerns about the drug’s efficacy. Despite this setback, BofA Securities maintained a Buy rating, albeit with a reduced price target of $7.00, highlighting optimism for ongoing trials. H.C. Wainwright also reiterated a Buy rating, setting a price target of $30.00, emphasizing observed benefits among female patients in the trials. Mizuho (NYSE:MFG) Securities kept an Outperform rating with a $20.00 price target, noting the potential for positive updates from the remaining trials. Investors remain attentive to Neumora’s upcoming clinical data readouts and the company’s broader pipeline potential.
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