Unusual Call Buy in Neuro Biotech
Neumora Therapeutics (NMRA) jumps here with an unusual buy of 1500 December $17.50 calls for $4.70. The $2.2B Biotech trades 5X Cash with 10% of the float short and estimates for $425M sales in FY28. RBC out defending shares on 3/13 after the lock-up expiration positive company’s lead drug navacaprant with potential de-risking catalysts coming the second half of the year given the promise of lead drug navacaprant in major depressive disorder, or MDD, and the rest of the company’s pipeline.