Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Up 7.8% – What’s Next?

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shares rose 7.8% during mid-day trading on Monday . The stock traded as high as $33.95 and last traded at $33.95. 72,024 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 382,445 shares. The stock had previously closed at $31.48.

Analyst Ratings Changes

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

Damora Therapeutics, Inc. Common Stock Price Performance

The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -5.91 and a beta of 1.46. The firm has a 50 day moving average price of $25.25 and a 200-day moving average price of $25.65.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last posted its earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.23). On average, sell-side analysts expect that Damora Therapeutics, Inc. Common Stock will post -1.92 EPS for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of DMRA. Ikarian Capital LLC bought a new position in Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at about $6,574,000. Janus Henderson Group PLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at approximately $40,000. Boothbay Fund Management LLC bought a new stake in Damora Therapeutics, Inc. Common Stock during the fourth quarter worth $2,204,000. Jain Global LLC bought a new position in Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at about $2,774,000. Finally, Remedium Capital Partners LLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the 4th quarter worth approximately $2,772,000. Institutional investors 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.