Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading 7.7% Higher - Here's Why

Key Points

• Damora Therapeutics (NASDAQ:DMRA) rose 7.7% on Thursday, trading as high as $29.65 on volume of 172,714 shares, which was below its normal daily average.
• Analyst sentiment remains mostly positive: multiple firms initiated or reiterated buy/outperform ratings, and MarketBeat shows a consensus rating of Moderate Buy with an average price target of $42.43.
• The company recently reported a quarterly loss of ($0.62) EPS, missing estimates, while analysts expect the biotech to post -1.92 EPS for the current fiscal year.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report)'s stock price shot up 7.7% on Thursday . The stock traded as high as $29.65 and last traded at $29.65. 172,714 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 377,342 shares. The stock had previously closed at $27.53.

Analysts Set New Price Targets

Several brokerages have commented on DMRA. HC Wainwright started coverage on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 11th. They issued a "buy" rating and a $45.00 price objective for the company. Royal Bank Of Canada started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Friday, April 24th. They set an "outperform" rating and a $40.00 price target on the stock. Wedbush reissued an "outperform" rating and issued a $35.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research note on Friday, June 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 18th. Finally, TD Cowen assumed coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, June 8th. They set a "buy" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued 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, Damora Therapeutics, Inc. Common Stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.43.

Damora Therapeutics, Inc. Common Stock Stock Performance

The firm has a market cap of $1.77 billion, a PE ratio of -5.16 and a beta of 1.46. The stock has a 50-day simple moving average of $24.11 and a two-hundred day simple moving average of $25.47.

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

Institutional Trading of Damora Therapeutics, Inc. Common Stock

Several institutional investors have recently made changes to their positions in DMRA. Janus Henderson Group PLC bought a new stake in Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $40,000. Geode Capital Management LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at $266,000. Virtu Financial LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the third quarter valued at $49,000. Sigma Planning Corp bought a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $334,000. Finally, Two Sigma Investments LP bought a new stake in Damora Therapeutics, Inc. Common Stock in the third quarter worth $76,000. Hedge funds and other institutional investors own 14.20% of the company's stock.

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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