Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Crosses Above 50-Day Moving Average After Analyst Downgrade

Key Points

• DMRA rose above its 50-day moving average, trading as high as $24.25 and last at $23.70, versus a 50-day average of $22.72. Wall Street Zen moved its rating from Sell to Hold.
• Analyst views remain mostly positive overall: MarketBeat reports a consensus Buy rating and an average price target of $46.38, though ratings range from Sell to Strong Buy.
• CEO Jennifer Jarrett bought 12,500 shares at an average $20.23, and the company reported a quarterly loss of $0.40 per share—better than the $0.52 loss analysts expected.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report)'s stock price passed above its 50-day moving average during trading on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock has a 50-day moving average of $22.72 and traded as high as $24.25. Damora Therapeutics, Inc. Common Stock shares last traded at $23.70, with a volume of 360,452 shares trading hands.

Several other research analysts also recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th. Jefferies Financial Group began coverage on Damora Therapeutics, Inc. Common Stock in a research note on Monday, July 27th. They set a "buy" rating and a $50.00 price objective for the company. HC Wainwright restated 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. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research report on Monday, August 24th. Finally, Guggenheim boosted their price objective on shares of Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the company 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 issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $46.38.

Insider Transactions at Damora Therapeutics, Inc. Common Stock

In related news, CEO Jennifer Jarrett acquired 12,500 shares of the business's stock in a transaction on Friday, September 25th. The shares were bought at an average cost of $20.23 per share, with a total value of $252,875.00. Following the completion of the transaction, the chief executive officer directly owned 512,500 shares of the company's stock, valued at $10,367,875. This trade represents a 2.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company's stock.

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

A number of large investors have recently bought and sold shares of the business. Braidwell LP acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at $42,146,000. Seven Fleet Capital Management LP acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth approximately $7,398,000. Squarepoint Ops LLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at approximately $303,000. Finally, Arizona State Retirement System bought a new stake in Damora Therapeutics, Inc. Common Stock during the second quarter worth approximately $260,000. Institutional investors own 14.20% of the company's stock.

Damora Therapeutics, Inc. Common Stock Stock Up 8.4%

The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -7.03 and a beta of 1.52. The business has a 50-day simple moving average of $22.72 and a two-hundred day simple moving average of $25.70.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.12. On average, analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current 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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