Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Upgraded at TD Cowen

Key Points

• TD Cowen upgraded Damora Therapeutics to “strong buy,” adding to a generally positive analyst outlook. The stock has a consensus “buy” rating and an average price target of $44, although one analyst maintains a sell rating.
• DMRA opened at $30.31, with a 52-week range of $2.45 to $38.33 and a market capitalization of approximately $1.87 billion. The company recently reported a quarterly loss of $0.39 per share, beating estimates for a $0.45 loss.
• Institutional investors have been building positions, including Braidwell and California State Teachers Retirement System; hedge funds and other institutions now own 14.2% of the stock. Damora is developing small-molecule therapies targeting fibrosis and cancer-related pathways, with lead programs in Phase II trials.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) was upgraded by TD Cowen to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. HC Wainwright restated 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. Wedbush boosted their price target on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. 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 objective on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Damora Therapeutics, Inc. Common Stock currently has a consensus rating of "Buy" and an average target price of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Performance

NASDAQ:DMRA opened at $30.31 on Monday. Damora Therapeutics, Inc. Common Stock has a 52-week low of $2.45 and a 52-week high of $38.33. The stock has a fifty day moving average of $28.50 and a 200 day moving average of $26.62. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -8.99 and a beta of 1.47.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.06. Equities analysts forecast that Damora Therapeutics, Inc. Common Stock will post -1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Braidwell LP purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at $42,146,000. California State Teachers Retirement System purchased a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth $27,429,000. Ikarian Capital LLC purchased a new position in Damora Therapeutics, Inc. Common Stock in the 4th quarter worth $6,574,000. Seven Fleet Capital Management LP bought a new stake in Damora Therapeutics, Inc. Common Stock in the second quarter worth $7,398,000. Finally, Jain Global LLC bought a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $2,774,000. 14.20% of the stock is owned by hedge funds and other institutional investors.

About Damora Therapeutics, Inc. Common Stock

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.

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