Shares of Neumora Therapeutics recently touched a new 52-week peak, driven by encouraging clinical trial results and a bullish analyst call. However, this price strength has prompted a divergence in behavior: while major institutional investors are accumulating shares, company insiders have been sellers. This dynamic raises questions about the longevity of the current rally.
Clinical Catalyst and Analyst Action
The immediate trigger for the stock’s ascent was an upgrade from William Blair. The investment bank shifted its rating to “Outperform,” citing promising Phase 1b clinical data for the company’s drug candidate, NMRA-511. Following this endorsement, Neumora’s stock reached a yearly high of $3.64 on Wednesday before settling at $3.39 in the subsequent session.
Despite this positive stance from William Blair, the broader analyst consensus remains more guarded, maintaining an average recommendation of “Hold.” Notably, however, the average price target of $8.13 suggests significant potential upside from current trading levels. Neumora’s total market valuation stands at approximately $591.4 million.
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Divergent Moves: Executives Sell as Funds Buy
The price appreciation coincided with reported stock sales by several company executives. On Tuesday, Paul Berns disposed of 9,819 shares at an average price of $3.51. Other insiders, including Daljit Singh Aurora and Joshua Pinto, also sold holdings. In Pinto’s case, the transactions were directly linked to tax obligations associated with vested equity awards.
In stark contrast, institutional activity in the fourth quarter of 2025 displayed strong accumulation. Millennium Management increased its stake by roughly 80%, while Siren L.L.C. expanded its position by 44.3%. Overall, institutional investors now hold 47.65% of the company’s shares.
Pipeline Progress as the Key Driver
The future trajectory of the stock is now heavily dependent on upcoming clinical milestones. The company anticipates critical data readouts from the KOASTAL-2 and KOASTAL-3 studies for its drug Navacaprant in the second quarter of 2026. Furthermore, Phase 2 results for NMRA-215 are expected by the end of 2026. These clinical catalysts will be pivotal in determining whether the equity can achieve the lofty price targets set by analysts.
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