Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Down 8.7% - Here's Why

Key Points

• DMRA shares fell 8.7% to $20.46, with trading volume about 54% below the average daily level.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and a $44 target price, despite one “Sell” rating from Weiss Ratings.
• The company reported a quarterly loss of $0.39 per share, beating estimates of a $0.45 loss, while institutional investors and hedge funds own 14.2% of the stock.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) was down 8.7% on Wednesday . The company traded as low as $20.46 and last traded at $20.46. Approximately 190,741 shares changed hands during trading, a decline of 54% from the average daily volume of 412,828 shares. The stock had previously closed at $22.41.

Analyst Ratings Changes

Several analysts recently issued reports on DMRA shares. TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research note on Monday, August 24th. Jefferies Financial Group started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They issued a "buy" rating and a $50.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. Wedbush raised their price target on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Finally, HC Wainwright reiterated 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. Three 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Performance

The company has a fifty day simple moving average of $29.05 and a two-hundred day simple moving average of $26.50. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -6.07 and a beta of 1.46.

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

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

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

Damora Therapeutics, Inc. Common Stock Company Profile

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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