Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Climb 6.9% – Here’s Why

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s share price traded up 6.9% on Monday. The company traded as high as $19.80 and last traded at $19.72. Approximately 82,451 shares traded hands during trading, a decline of 81% from the average daily volume of 429,451 shares. The stock had previously closed at $18.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Jefferies Financial Group began coverage on Damora Therapeutics, Inc. Common Stock in a research note on Monday, July 27th. They issued a “buy” rating and a $50.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $40.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, September 29th. Wall Street Zen raised Damora Therapeutics, Inc. Common Stock from a “sell” rating to a “hold” rating in a research report on Sunday, October 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $46.50.

Damora Therapeutics, Inc. Common Stock Price Performance

The firm’s 50 day moving average price is $25.05 and its 200-day moving average price is $25.65. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -6.13 and a beta of 1.43.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last released its earnings results on Monday, August 10th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.06. Analysts expect that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current year.

Insider Activity at Damora Therapeutics, Inc. Common Stock

In related news, CEO Jennifer Jarrett acquired 12,500 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was acquired at an average price of $20.23 per share, with a total value of $252,875.00. Following the completion of the transaction, the chief executive officer owned 512,500 shares of the company’s stock, valued at approximately $10,367,875. This represents a 2.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Damora Therapeutics, Inc. Common Stock

A number of institutional investors have recently added to or reduced their stakes in DMRA. Braidwell LP acquired a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at approximately $42,146,000. Seven Fleet Capital Management LP bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth approximately $7,398,000. Squarepoint Ops LLC bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth approximately $303,000. Finally, Arizona State Retirement System bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth approximately $260,000. 14.20% of the stock is owned by institutional investors and hedge funds.

Damora Therapeutics, Inc. Common Stock Company Profile

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.