Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading 10.5% Higher – Here’s Why

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) traded up 10.5% during mid-day trading on Monday . The company traded as high as $23.90 and last traded at $23.46. 22,282 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 289,093 shares. The stock had previously closed at $21.23.

Wall Street Analysts Forecast Growth

DMRA has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $35.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a report on Friday, June 12th. TD Cowen initiated coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, June 8th. They issued a “buy” rating on the stock. Royal Bank Of Canada initiated coverage on Damora Therapeutics, Inc. Common Stock in a research note on Friday, April 24th. They set an “outperform” rating and a $40.00 price objective for the company. Evercore started coverage on Damora Therapeutics, Inc. Common Stock in a report on Wednesday, March 25th. They issued an “outperform” rating and a $46.00 price objective for the company. Finally, HC Wainwright initiated coverage on Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 11th. They issued a “buy” rating and a $45.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.43.

Damora Therapeutics, Inc. Common Stock Stock Up 17.4%

The company’s fifty day simple moving average is $24.10 and its two-hundred day simple moving average is $25.53. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -4.47 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.23). Equities research analysts expect that Damora Therapeutics, Inc. Common Stock will post -1.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DMRA. Janus Henderson Group PLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth about $40,000. Geode Capital Management LLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at approximately $266,000. Virtu Financial LLC bought a new stake in Damora Therapeutics, Inc. Common Stock during the 3rd quarter worth approximately $49,000. Sigma Planning Corp bought a new stake in Damora Therapeutics, Inc. Common Stock during the 4th quarter worth approximately $334,000. Finally, Two Sigma Investments LP acquired a new stake in Damora Therapeutics, Inc. Common Stock during the 3rd quarter worth approximately $76,000. 14.20% of the stock is owned by institutional investors and hedge funds.

About Damora Therapeutics, Inc. Common Stock

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company’s research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.