Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Down 6.1% - Here's Why

Key Points

• DMRA shares fell 6.1% to $27.39 in mid-day trading, with volume down 89% from the stock’s average daily volume.
• Analyst sentiment remains broadly positive: the stock has an average “Buy” rating and a $44 price target, despite one “Sell” rating.
• The clinical-stage biotechnology company reported quarterly EPS of negative $0.39, beating estimates of negative $0.45; institutional investors currently own 14.2% of the stock.

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) dropped 6.1% during mid-day trading on Wednesday . The company traded as low as $27.39 and last traded at $27.39. Approximately 40,731 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 378,731 shares. The stock had previously closed at $29.17.

Analyst Ratings Changes

Several equities analysts have recently commented on DMRA shares. HC Wainwright restated a "buy" rating and set a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. Wedbush lifted their price objective on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research note on Monday, August 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Thursday, June 18th. Finally, 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 target on the stock. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Damora Therapeutics, Inc. Common Stock currently has an average rating of "Buy" and an average price target of $44.00.

Damora Therapeutics, Inc. Common Stock Price Performance

The business has a fifty day moving average price of $29.92 and a 200 day moving average price of $26.87. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -8.07 and a beta of 1.46.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new position in Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at $40,000. Arizona State Retirement System bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth $260,000. Geode Capital Management LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at $266,000. Squarepoint Ops LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at $303,000. Finally, Virtu Financial LLC bought a new position in Damora Therapeutics, Inc. Common Stock during the third quarter valued at about $49,000. 14.20% of the stock is currently owned by institutional investors.

About Damora Therapeutics, Inc. Common Stock

Galecto Inc is a clinical‐stage biotechnology company developing small‐molecule therapies that target key pathways involved in fibrotic and malignant diseases. The company's research focuses on inhibiting galectin‐3, an extracellular carbohydrate‐binding protein implicated in inflammation, fibrosis and tumor progression, as well as lysyl oxidase‐like 2 (LOXL2), an enzyme that crosslinks collagen and elastin in fibrotic tissue.

Its lead programs include GB0139, an inhaled galectin‐3 inhibitor in Phase II trials for idiopathic pulmonary fibrosis and other fibrosing lung diseases, and GB1211, an oral galectin‐3 inhibitor being evaluated for systemic fibrotic disorders.

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