Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Gap Up Following Insider Buying Activity

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $20.66, but opened at $21.26. Damora Therapeutics, Inc. Common Stock shares last traded at $20.12, with a volume of 89,337 shares traded.

Specifically, CEO Jennifer Jarrett bought 12,500 shares of Damora Therapeutics, Inc. Common Stock stock in a transaction on Friday, September 25th. The shares were acquired at an average price of $20.23 per share, for a total transaction of $252,875.00. Following the completion of the purchase, the chief executive officer directly owned 512,500 shares in the company, valued at approximately $10,367,875. This trade represents a 2.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

A number of research analysts have recently commented on DMRA shares. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They set a “buy” rating and a $50.00 price objective for the company. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research report on Monday, August 24th. Guggenheim upped their target price on shares of Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $46.50.

Damora Therapeutics, Inc. Common Stock Trading Down 0.4%

The firm’s 50-day moving average price is $27.94 and its two-hundred day moving average price is $26.22. The stock has a market cap of $1.28 billion, a PE ratio of -6.13 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.06. On average, analysts anticipate that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter worth $303,000. Arizona State Retirement System purchased a new position in Damora Therapeutics, Inc. Common Stock in the second quarter valued at about $260,000. Seven Fleet Capital Management LP purchased a new position in Damora Therapeutics, Inc. Common Stock in the second quarter valued at about $7,398,000. Finally, Braidwell LP bought a new position in Damora Therapeutics, Inc. Common Stock in the second quarter worth about $42,146,000. 14.20% of the stock is currently owned by hedge funds and other institutional investors.

About Damora Therapeutics, Inc. Common Stock

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.