Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Falls 5.5% - Here's Why

Key Points

• DMRA shares fell 5.5% to $20.12, with trading volume plunging 98% below the average daily volume.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and a $46.50 price target, despite one “Sell” rating.
• CEO Jennifer Jarrett purchased 12,500 shares for approximately $252,875, while institutional investors own 14.2% of the company.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) shares fell 5.5% during trading on Friday. The company traded as low as $20.00 and last traded at $20.12. Approximately 7,982 shares traded hands during trading, a decline of 98% from the average daily volume of 426,424 shares. The stock had previously closed at $21.28.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DMRA. HC Wainwright reiterated a "buy" rating and issued a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. TD Cowen raised Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research note on Monday, August 24th. Wedbush reiterated an "outperform" rating and issued a $40.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, September 14th. 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 report on Friday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $46.50.

Damora Therapeutics, Inc. Common Stock Stock Performance

The stock has a market cap of $1.23 billion, a P/E ratio of -5.90 and a beta of 1.43. The firm has a 50-day moving average price of $27.58 and a 200-day moving average price of $26.11.

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

Insider Buying and Selling at Damora Therapeutics, Inc. Common Stock

In other Damora Therapeutics, Inc. Common Stock news, CEO Jennifer Jarrett purchased 12,500 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average cost of $20.23 per share, for a total transaction of $252,875.00. Following the purchase, the chief executive officer directly owned 512,500 shares in the company, valued at $10,367,875. The trade was a 2.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Braidwell LP purchased a new position in Damora Therapeutics, Inc. Common Stock during the second quarter valued at $42,146,000. Seven Fleet Capital Management LP purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth about $7,398,000. Squarepoint Ops LLC bought a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth about $303,000. Finally, Arizona State Retirement System bought a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth about $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.