Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Gap Down - Here's Why

Key Points

• DMRA gapped down at the open (closed $25.36, opened $24.07) but later traded up to $26.86 on a volume of 15,596 shares.
• Wall Street sentiment is largely positive with an average rating of "Moderate Buy", an average target price of $43.40, and coverage that includes multiple buy/outperform initiations (2 Strong Buy, 4 Buy, 1 Hold, 1 Sell).
• The company has a market cap of about $1.59 billion, a negative P/E of -2.18, and roughly 14.2% institutional ownership, with several funds recently establishing new positions.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $25.36, but opened at $24.07. Damora Therapeutics, Inc. Common Stock shares last traded at $26.86, with a volume of 15,596 shares changing hands.

Wall Street Analyst Weigh In

DMRA has been the subject of several recent research reports. Zacks Research raised Damora Therapeutics, Inc. Common Stock to a "hold" rating in a research note on Friday, January 9th. Royal Bank Of Canada assumed coverage on Damora Therapeutics, Inc. Common Stock in a report on Friday, April 24th. They issued an "outperform" rating and a $40.00 target price for the company. Leerink Partners assumed coverage on Damora Therapeutics, Inc. Common Stock in a research report on Wednesday, January 7th. They set an "outperform" rating and a $46.00 target price for the company. UBS Group assumed coverage on Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, February 17th. They set a "buy" rating and a $45.00 target price for the company. Finally, Guggenheim reaffirmed a "buy" rating and set a $40.00 target price (up from $36.00) on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Damora Therapeutics, Inc. Common Stock currently has an average rating of "Moderate Buy" and an average target price of $43.40.

Damora Therapeutics, Inc. Common Stock Stock Up 4.1%

The stock has a market cap of $1.59 billion, a P/E ratio of -2.18 and a beta of 1.50. The business has a 50-day simple moving average of $26.63 and a 200-day simple moving average of $23.21.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sigma Planning Corp acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth approximately $334,000. Two Sigma Investments LP acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the third quarter worth approximately $76,000. Geode Capital Management LLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth approximately $266,000. Boothbay Fund Management LLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth approximately $2,204,000. Finally, Remedium Capital Partners LLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth approximately $2,772,000. 14.20% of the stock is currently owned by institutional investors and hedge funds.

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.

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