Significance Converging evidence points to a role for glutamate and altered brain network dynamics in schizophrenia, but the molecular and genetic contributions are poorly understood. Here, we applied dynamic network neuroscience methods to neuroimaging working memory data to identify potential alterations in brain network flexibility related to schizophrenia genetic risk and N -methyl- d -aspartate (NMDA) receptor hypofunction. Consistent with altered network dynamics, we detected significant increases in brain network flexibility in patients with schizophrenia, healthy first-degree relatives, and healthy subjects receiving a single dose of an NMDA receptor antagonist. Our data identify a potential dynamic network intermediate phenotype related to the genetic risk for schizophrenia and point to a critical role for glutamate in the temporal coordination of neural networks and the pathophysiology of schizophrenia.