Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Down 6.1% – Time to Sell?

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s share price traded down 6.1% on Wednesday . The stock traded as low as $27.39 and last traded at $27.39. 40,731 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 378,731 shares. The stock had previously closed at $29.17.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush upped their price objective on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 18th. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research report on Monday, August 24th. Jefferies Financial Group started coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They set a “buy” rating and a $50.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. Three 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 given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Up 2.2%

The stock has a market capitalization of $1.66 billion, a P/E ratio of -7.96 and a beta of 1.46. The business’s 50 day simple moving average is $29.84 and its two-hundred day simple moving average is $26.81.

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

Hedge Funds Weigh In On Damora Therapeutics, Inc. Common Stock

A number of hedge funds and other institutional investors have recently modified their holdings of DMRA. Squarepoint Ops LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth about $303,000. Arizona State Retirement System bought a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at $260,000. California State Teachers Retirement System bought a new stake in Damora Therapeutics, Inc. Common Stock during the second quarter valued at $27,429,000. Seven Fleet Capital Management LP bought a new stake in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter valued at about $7,398,000. Finally, Braidwell LP purchased a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth approximately $42,146,000. Hedge funds and other 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.