Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Short Interest Update

Key Points

• Short interest jumped 93.4% to 827,221 shares as of March 31, equal to about 1.5% of shares short and a short-interest ratio of 2.5 days.
• Several hedge funds initiated sizable Q4 positions (Ikarian $6.57M, Jain $2.77M, Remedium $2.77M, Boothbay $2.20M), leaving institutional ownership at 14.20%.
• Analysts have added/raised coverage (Evercore $46 outperform, UBS $45 buy, Guggenheim $40), giving a consensus rating of "Moderate Buy" and an average target of $44.25 versus the stock opening at $25.82 (market cap $1.56B).

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 827,221 shares, a growth of 93.4% from the March 15th total of 427,713 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 335,772 shares, the short-interest ratio is currently 2.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Ikarian Capital LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $6,574,000. Jain Global LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $2,774,000. Remedium Capital Partners LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $2,772,000. Boothbay Fund Management LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $2,204,000. Finally, Connective Capital Management LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the third quarter valued at approximately $100,000. Institutional investors own 14.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DMRA shares. Evercore started coverage on Damora Therapeutics, Inc. Common Stock in a research report on Wednesday, March 25th. They set an "outperform" rating and a $46.00 price objective on the stock. UBS Group started coverage on Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, February 17th. They set a "buy" rating and a $45.00 price objective on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, December 29th. Zacks Research upgraded Damora Therapeutics, Inc. Common Stock to a "hold" rating in a research report on Friday, January 9th. Finally, Guggenheim restated a "buy" rating and set a $40.00 price objective (up from $36.00) on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.25.

Damora Therapeutics, Inc. Common Stock Price Performance

Shares of DMRA stock opened at $25.82 on Monday. The company has a market cap of $1.56 billion, a PE ratio of -2.13 and a beta of 1.59. The stock's 50 day simple moving average is $26.81 and its two-hundred day simple moving average is $21.44. Damora Therapeutics, Inc. Common Stock has a 1 year low of $2.14 and a 1 year high of $38.33.

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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