Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Down 5.5% – Here’s Why

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) was down 5.5% on Tuesday . The stock traded as low as $26.82 and last traded at $26.84. 23,758 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 381,676 shares. The stock had previously closed at $28.39.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush upped their target price on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Jefferies Financial Group initiated coverage on Damora Therapeutics, Inc. Common Stock in a research note on Monday, July 27th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 18th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Down 11.6%

The firm’s 50-day simple moving average is $29.77 and its 200-day simple moving average is $26.78. The firm has a market capitalization of $1.55 billion, a PE ratio of -7.45 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.06. On average, equities research analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current year.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

Several hedge funds and other institutional investors have recently bought and sold shares of DMRA. Braidwell LP bought a new position in shares of Damora Therapeutics, Inc. Common Stock in the second quarter worth approximately $42,146,000. Seven Fleet Capital Management LP bought a new stake in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth $7,398,000. Squarepoint Ops LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at about $303,000. Finally, Arizona State Retirement System bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at about $260,000. Institutional investors own 14.20% of the company’s stock.

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.