Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Gap Up on Insider Buying Activity

Key Points

• DMRA shares opened higher at $21.26 after CEO Jennifer Jarrett bought 12,500 shares for approximately $252,875, increasing her stake by 2.5%; the stock later traded at $20.12.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and a $46.50 price target, although Weiss Ratings maintained a “sell” rating.
• Institutional investors added positions during the second quarter, and funds now own 14.2% of the company. The company recently reported a quarterly loss of $0.39 per share, beating estimates of a $0.45 loss.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) shares gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $20.66, but opened at $21.26. Damora Therapeutics, Inc. Common Stock shares last traded at $20.12, with a volume of 89,337 shares traded.

Specifically, CEO Jennifer Jarrett acquired 12,500 shares of the stock in a transaction dated Friday, September 25th. The stock was acquired at an average cost of $20.23 per share, with a total value of $252,875.00. Following the transaction, the chief executive officer owned 512,500 shares in the company, valued at $10,367,875. The trade was a 2.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wedbush boosted their target price on Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. HC Wainwright reissued a "buy" rating and set a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research report on Monday, August 24th. Jefferies Financial Group initiated coverage on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They issued a "buy" rating and a $50.00 target price for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th. Three 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $46.50.

Damora Therapeutics, Inc. Common Stock Stock Down 2.6%

The stock has a market cap of $1.24 billion, a PE ratio of -5.97 and a beta of 1.46. The stock has a fifty day moving average of $28.43 and a 200-day moving average of $26.33.

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. Equities research analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current fiscal year.

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

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

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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