Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Down 7% - What's Next?

Key Points

• DMRA shares fell 7% to $18.84, with trading volume down 72% from the stock’s average daily volume. The decline placed the stock well below its 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive despite the selloff: MarketBeat reports a consensus “Buy” rating and an average price target of $46.50, although Weiss Ratings maintains a “sell” rating.
• The company reported a quarterly loss of $0.39 per share, beating estimates for a $0.45 loss. CEO Jennifer Jarrett also purchased 12,500 shares, while institutional investors—including Braidwell LP—recently established positions.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report)'s share price was down 7% during trading on Tuesday. The company traded as low as $18.81 and last traded at $18.84. Approximately 119,287 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 429,429 shares. The stock had previously closed at $20.25.

Analyst Upgrades and Downgrades

DMRA has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. HC Wainwright restated a "buy" rating and issued a $45.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, July 21st. TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research note on Monday, August 24th. Wedbush reaffirmed an "outperform" rating and set a $40.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, September 29th. Finally, Guggenheim lifted their target price on Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the company a "buy" rating in a report on Friday, September 25th. Three 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $46.50.

Damora Therapeutics, Inc. Common Stock Trading Down 6.9%

The firm has a market cap of $1.16 billion, a P/E ratio of -5.59 and a beta of 1.43. The stock's fifty day moving average is $26.38 and its two-hundred day moving average is $25.92.

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

Insider Transactions at Damora Therapeutics, Inc. Common Stock

In other Damora Therapeutics, Inc. Common Stock news, CEO Jennifer Jarrett acquired 12,500 shares of the company's stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average price of $20.23 per share, with a total value of $252,875.00. Following the completion of the purchase, the chief executive officer owned 512,500 shares of the company's stock, valued at approximately $10,367,875. This represents a 2.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 added to or reduced their stakes in DMRA. Squarepoint Ops LLC purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at about $303,000. Arizona State Retirement System purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth about $260,000. Seven Fleet Capital Management LP purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth about $7,398,000. Finally, Braidwell LP purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter worth about $42,146,000. 14.20% of the stock is currently owned by institutional investors.

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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