Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Down 8.6% - Should You Sell?

Key Points

• Damora Therapeutics (NASDAQ:DMRA) fell 8.6% on Wednesday, trading as low as $30.16 on volume far below normal, with just 33,490 shares changing hands versus an average of 382,301.
• Despite the pullback, analysts remain mostly bullish: the stock carries a Moderate Buy consensus rating and an average price target of $42.43, with several firms reiterating buy/outperform ratings.
• The company recently posted a quarterly loss of ($0.62) per share, missing expectations by $0.23, and analysts forecast it will remain unprofitable this year with expected EPS of -1.92.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report)'s stock price dropped 8.6% during trading on Wednesday . The stock traded as low as $30.16 and last traded at $30.16. 33,490 shares traded hands during trading, a decline of 91% from the average daily volume of 382,301 shares. The stock had previously closed at $32.99.

Analyst Ratings Changes

DMRA has been the subject of several analyst reports. Wedbush reissued an "outperform" rating and issued a $35.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research note on Friday, June 12th. Evercore began coverage on Damora Therapeutics, Inc. Common Stock in a report on Wednesday, March 25th. They issued an "outperform" rating and a $46.00 price target on the stock. TD Cowen initiated coverage on Damora Therapeutics, Inc. Common Stock in a research note on Monday, June 8th. They set a "buy" rating for the company. Royal Bank Of Canada assumed coverage on Damora Therapeutics, Inc. Common Stock in a report on Friday, April 24th. They set an "outperform" rating and a $40.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.43.

Damora Therapeutics, Inc. Common Stock Stock Down 8.3%

The company's 50 day moving average price is $25.25 and its two-hundred day moving average price is $25.65. The stock has a market cap of $1.86 billion, a P/E ratio of -5.42 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.23). As a group, equities research analysts forecast that Damora Therapeutics, Inc. Common Stock will post -1.92 earnings per share for the current year.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

A number of hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new position in Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at about $40,000. Geode Capital Management LLC purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $266,000. Virtu Financial LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the third quarter valued at approximately $49,000. Sigma Planning Corp purchased a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $334,000. Finally, Two Sigma Investments LP purchased a new position in Damora Therapeutics, Inc. Common Stock during the third quarter valued at approximately $76,000. 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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