Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Issues Quarterly Earnings Results

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) announced its quarterly earnings data on Wednesday. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.12, FiscalAI reports.

Damora Therapeutics, Inc. Common Stock Stock Up 8.4%

Shares of DMRA stock traded up $1.83 on Friday, hitting $23.69. The stock had a trading volume of 149,112 shares, compared to its average volume of 432,229. Damora Therapeutics, Inc. Common Stock has a one year low of $4.95 and a one year high of $38.33. The business has a 50 day moving average price of $22.86 and a 200 day moving average price of $25.72. The company has a market cap of $1.46 billion, a PE ratio of -7.03 and a beta of 1.52.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DMRA shares. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, September 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. Guggenheim decreased their price objective on Damora Therapeutics, Inc. Common Stock from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday. TD Cowen raised Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Jefferies Financial Group started coverage on Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They issued a “buy” rating and a $50.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Damora Therapeutics, Inc. Common Stock presently has a consensus rating of “Buy” and an average price target of $46.38.

Insider Activity

In related news, CEO Jennifer Jarrett purchased 12,500 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were acquired at an average cost of $20.23 per share, for a total transaction of $252,875.00. Following the acquisition, the chief executive officer owned 512,500 shares of the company’s stock, valued at $10,367,875. The trade was a 2.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth $303,000. Arizona State Retirement System purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the second quarter worth about $260,000. Seven Fleet Capital Management LP purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the second quarter worth about $7,398,000. Finally, Braidwell LP acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth about $42,146,000. 14.20% of the stock is currently owned by hedge funds and other institutional investors.

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.