Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Gap Down - Time to Sell?

Key Points

• DMRA shares gapped down 3.2%, opening at $20.51 versus a prior close of $21.28, and recently traded near $20.77.
• Despite the decline, analyst sentiment remains positive: the stock has a consensus “Buy” rating and an average price target of $46.50, well above its current price.
• The company reported a quarterly loss of $0.39 per share, beating estimates by $0.06, while CEO Jennifer Jarrett purchased 12,500 shares at an average price of $20.23.

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) gapped down prior to trading on Thursday. The stock had previously closed at $21.28, but opened at $20.51. Damora Therapeutics, Inc. Common Stock shares last traded at $20.77, with a volume of 20,170 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. TD Cowen raised Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research note on Monday, August 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. Jefferies Financial Group initiated coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, July 27th. They issued a "buy" rating and a $50.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Finally, Guggenheim boosted their price objective on Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $46.50.

Damora Therapeutics, Inc. Common Stock Trading Down 3.2%

The company has a market capitalization of $1.27 billion, a PE ratio of -6.11 and a beta of 1.46. The stock's 50-day moving average is $27.76 and its two-hundred day moving average is $26.17.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.06. On average, equities research analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jennifer Jarrett purchased 12,500 shares of the business's stock in a transaction dated Friday, September 25th. The shares were purchased at an average cost of $20.23 per share, for a total transaction of $252,875.00. Following the completion of the acquisition, the chief executive officer owned 512,500 shares in the company, valued at approximately $10,367,875. This trade represents a 2.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company's stock.

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

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