Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Up 7.7% – Here’s Why

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shares shot up 7.7% during trading on Thursday . The stock traded as high as $29.65 and last traded at $29.65. Approximately 172,714 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 377,342 shares. The stock had previously closed at $27.53.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Cowen assumed coverage on Damora Therapeutics, Inc. Common Stock in a report on Monday, June 8th. They issued a “buy” rating for the company. HC Wainwright began coverage on Damora Therapeutics, Inc. Common Stock in a research report on Thursday, June 11th. They issued a “buy” rating and a $45.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research note on Friday, June 12th. Evercore began coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Wednesday, March 25th. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.43.

Damora Therapeutics, Inc. Common Stock Price Performance

The stock has a market cap of $1.77 billion, a PE ratio of -5.16 and a beta of 1.46. The business has a fifty day moving average of $24.11 and a 200-day moving average of $25.47.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.23). As a group, equities research analysts predict that Damora Therapeutics, Inc. Common Stock will post -1.92 EPS for the current year.

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

Several large investors have recently modified their holdings of the business. Ikarian Capital LLC purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $6,574,000. Jain Global LLC purchased a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $2,774,000. Remedium Capital Partners LLC bought a new position in Damora Therapeutics, Inc. Common Stock in the fourth quarter worth approximately $2,772,000. Boothbay Fund Management LLC bought a new position in Damora Therapeutics, Inc. Common Stock in the fourth quarter worth approximately $2,204,000. Finally, Connective Capital Management LLC bought a new position in Damora Therapeutics, Inc. Common Stock in the third quarter worth approximately $100,000. Institutional investors own 14.20% of the company’s stock.

Damora Therapeutics, Inc. Common Stock Company Profile

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.