Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analysts are broadly bullish on DMRA: Twelve brokerages give the stock a consensus “Buy” rating, with an average 12-month price target of $44.00. Ratings include seven buys, three strong buys, one hold and one sell.
• Institutional ownership has expanded: Several hedge funds initiated positions in the second quarter, including Braidwell LP’s approximately $42.1 million stake; institutional investors collectively own 14.2% of the stock.
• DMRA recently opened at $22.59, well below its 52-week high of $38.33, while the company reported a quarterly loss of $0.39 per share—better than the expected $0.45 loss.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) has been assigned a consensus recommendation of "Buy" from the twelve brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.00.

A number of research analysts recently weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $45.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a report on Monday, August 24th. Wedbush lifted their price objective on Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. Jefferies Financial Group initiated coverage on Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They set a "buy" rating and a $50.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th.

Institutional Inflows and Outflows

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

Damora Therapeutics, Inc. Common Stock Stock Performance

Shares of DMRA stock opened at $22.59 on Friday. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -6.70 and a beta of 1.46. Damora Therapeutics, Inc. Common Stock has a one year low of $2.77 and a one year high of $38.33. The company has a 50 day moving average price of $29.33 and a 200 day moving average price of $26.61.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.06. As a group, equities analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current fiscal year.

About Damora Therapeutics, Inc. Common Stock

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.

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