Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Up 4% – Here’s Why

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s share price traded up 4% on Thursday . The company traded as high as $27.61 and last traded at $27.32. 35,591 shares were traded during trading, a decline of 91% from the average daily volume of 379,489 shares. The stock had previously closed at $26.27.

Analyst Ratings Changes

DMRA has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 18th. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Jefferies Financial Group started coverage on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They issued a “buy” rating and a $50.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. Finally, Wedbush boosted their target price on 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. Three research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Up 4.7%

The firm has a market capitalization of $1.73 billion, a P/E ratio of -8.34 and a beta of 1.46. The firm’s 50-day simple moving average is $29.80 and its 200-day simple moving average is $26.82.

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

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

Several hedge funds have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter valued at about $7,398,000. Braidwell LP purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter valued at about $42,146,000. Virtu Financial LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the 3rd quarter valued at about $49,000. Boothbay Fund Management LLC bought a new stake in Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $2,204,000. Finally, Remedium Capital Partners LLC bought a new stake in Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $2,772,000. 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.