Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Earns "Outperform" Rating from Wedbush

Key Points

• Wedbush reaffirmed its “Outperform” rating on DMRA with a $40 price target, implying approximately 92.8% upside from the stock’s $20.75 opening price.
• Analyst sentiment is broadly positive: DMRA has a consensus “Buy” rating and an average price target of $46.50, despite one “Sell” rating.
• The company’s latest quarterly loss of $0.39 per share beat estimates of $0.45, while CEO Jennifer Jarrett bought 12,500 shares worth about $253,000.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Wedbush in a research report issued on Tuesday, Benzinga reports. They presently have a $40.00 price objective on the stock. Wedbush's price target indicates a potential upside of 92.77% from the company's current price.

A number of other brokerages have also recently weighed in on DMRA. Guggenheim upped their price target on shares of Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday. 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 reaffirmed a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research report on Monday, August 24th. Finally, Jefferies Financial Group started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They set a "buy" rating and a $50.00 price target for the company. Three 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $46.50.

Damora Therapeutics, Inc. Common Stock Stock Up 0.4%

DMRA stock opened at $20.75 on Tuesday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -6.16 and a beta of 1.46. The business has a fifty day simple moving average of $28.18 and a 200-day simple moving average of $26.27. Damora Therapeutics, Inc. Common Stock has a 52 week low of $3.50 and a 52 week high of $38.33.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.39) 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jennifer Jarrett acquired 12,500 shares of the firm's stock in a transaction on Friday, September 25th. The stock was bought at an average cost of $20.23 per share, with a total value of $252,875.00. Following the transaction, the chief executive officer directly owned 512,500 shares in the company, valued at approximately $10,367,875. This represents a 2.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by insiders.

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

Large investors have recently modified their holdings of the stock. Braidwell LP bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth about $42,146,000. Seven Fleet Capital Management LP bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth about $7,398,000. Squarepoint Ops LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth about $303,000. Finally, Arizona State Retirement System bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth 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.