Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Sees Large Volume Increase After Analyst Upgrade

Key Points

• Guggenheim raised its price target for DMRA from $40 to $60 while maintaining a buy rating, triggering a 132% jump in trading volume to approximately 982,116 shares.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating and an average price target of $46.50, despite one sell rating.
• Institutional ownership stands at 14.2%, with several hedge funds—including Braidwell and Seven Fleet Capital Management—establishing new positions during the second quarter.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) saw strong trading volume on Friday after Guggenheim raised their price target on the stock from $40.00 to $60.00. Guggenheim currently has a buy rating on the stock. Approximately 982,116 shares traded hands during trading, an increase of 132% from the previous session's volume of 422,743 shares. The stock last traded at $19.96 and had previously closed at $20.27.

Several other analysts also recently weighed in on DMRA. HC Wainwright reaffirmed a "buy" rating and set a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th. Wedbush upped their target price on Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Jefferies Financial Group started coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They set a "buy" rating and a $50.00 price target on the stock. Finally, TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a report on Monday, August 24th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $46.50.

Hedge Funds Weigh In On Damora Therapeutics, Inc. Common Stock

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

Damora Therapeutics, Inc. Common Stock Stock Performance

The firm's 50-day moving average price is $28.64 and its two-hundred day moving average price is $26.38. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -5.90 and a beta of 1.46.

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