Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Down 5.5% - What's Next?

Key Points

• DMRA shares fell 5.5% intraday to about $26.84, with trading volume down 94% from the average session level.
• Analyst sentiment remains broadly positive: the stock has an average “Buy” rating and a $44.00 average price target, despite one “Sell” rating.
• The company reported a quarterly loss of $0.39 per share, beating estimates by $0.06, while institutional investors—including Braidwell LP—recently initiated positions; institutions now own 14.2% of shares.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report)'s share price fell 5.5% during mid-day trading on Tuesday . The company traded as low as $26.82 and last traded at $26.84. 23,758 shares traded hands during trading, a decline of 94% from the average session volume of 381,676 shares. The stock had previously closed at $28.39.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wedbush boosted their target price on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. HC Wainwright reissued a "buy" rating and issued a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 18th. Jefferies Financial Group assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They set a "buy" rating and a $50.00 price objective for the company. Finally, TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research report on Monday, August 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Damora Therapeutics, Inc. Common Stock presently has an average rating of "Buy" and an average target price of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Down 11.6%

The company has a market capitalization of $1.55 billion, a P/E ratio of -7.45 and a beta of 1.46. The business's 50-day moving average is $29.77 and its two-hundred day moving average is $26.78.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.06. Analysts predict that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current year.

Institutional Investors Weigh In On Damora Therapeutics, Inc. Common Stock

A number of hedge funds have recently made changes to their positions in the business. Seven Fleet Capital Management LP purchased a new stake in Damora Therapeutics, Inc. Common Stock during the second quarter worth about $7,398,000. Braidwell LP purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter worth approximately $42,146,000. Squarepoint Ops LLC bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth approximately $303,000. Finally, Arizona State Retirement System bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at $260,000. 14.20% of the stock is currently owned by institutional investors.

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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