Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Down 9.6% – Here’s What Happened

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shares dropped 9.6% on Wednesday . The stock traded as low as $18.82 and last traded at $18.94. Approximately 147,571 shares changed hands during trading, a decline of 46% from the average daily volume of 270,993 shares. The stock had previously closed at $20.96.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DMRA shares. UBS Group started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, February 17th. They issued a “buy” rating and a $45.00 price objective for the company. Wedbush assumed coverage on Damora Therapeutics, Inc. Common Stock in a research report on Thursday, May 28th. They issued an “outperform” rating and a $35.00 price objective for the company. Royal Bank Of Canada assumed coverage on Damora Therapeutics, Inc. Common Stock in a research report on Friday, April 24th. They issued an “outperform” rating and a $40.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $40.00 price objective (up from $36.00) on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, February 17th. Finally, TD Cowen assumed coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Damora Therapeutics, Inc. Common Stock Stock Down 6.3%

The company has a market capitalization of $1.21 billion, a PE ratio of -3.52 and a beta of 1.46. The stock’s fifty day simple moving average is $24.76 and its 200-day simple moving average is $25.32.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last issued its earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.23). Analysts expect that Damora Therapeutics, Inc. Common Stock will post -2.1 EPS for the current year.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

A number of large investors have recently made changes to their positions in the stock. Ikarian Capital LLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $6,574,000. Jain Global LLC acquired a new stake in Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at approximately $2,774,000. Remedium Capital Partners LLC acquired a new stake in Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at approximately $2,772,000. Boothbay Fund Management LLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $2,204,000. Finally, Connective Capital Management LLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the 3rd quarter valued at approximately $100,000. Institutional investors and hedge funds own 14.20% of the company’s stock.

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.