Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Up 6.9% – Here’s What Happened

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s share price traded up 6.9% during trading on Monday. The stock traded as high as $19.80 and last traded at $19.72. Approximately 82,451 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 429,451 shares. The stock had previously closed at $18.44.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DMRA. TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research report on Monday, August 24th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, September 29th. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. Finally, Guggenheim increased their target price on Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 25th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $46.50.

Damora Therapeutics, Inc. Common Stock Price Performance

The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -5.75 and a beta of 1.43. The business’s 50-day moving average price is $25.45 and its 200 day moving average price is $25.73.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.06. As a group, sell-side analysts expect that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current year.

Insider Activity at Damora Therapeutics, Inc. Common Stock

In other Damora Therapeutics, Inc. Common Stock news, CEO Jennifer Jarrett purchased 12,500 shares of Damora Therapeutics, Inc. Common Stock stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average price of $20.23 per share, with a total value of $252,875.00. Following the completion of the acquisition, the chief executive officer owned 512,500 shares of the company’s stock, valued at approximately $10,367,875. This trade represents a 2.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

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

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