Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Up 6.9% - Here's What Happened

Key Points

• DMRA rose 6.9% to $19.72 in Monday trading, although volume was 81% below its average daily level.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and an average price target of $46.50, despite one sell rating.
• The company beat quarterly EPS expectations, reporting a loss of $0.39 per share versus the projected $0.45 loss; CEO Jennifer Jarrett also purchased 12,500 shares worth approximately $253,000.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report)'s stock price rose 6.9% during trading on Monday. The company traded as high as $19.80 and last traded at $19.72. Approximately 82,451 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 429,451 shares. The stock had previously closed at $18.44.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DMRA. Guggenheim raised their price target on Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, September 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th. HC Wainwright reaffirmed a "buy" rating and set a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, July 21st. Jefferies Financial Group initiated coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They set a "buy" rating and a $50.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $46.50.

Damora Therapeutics, Inc. Common Stock Price Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.75 and a beta of 1.43. The stock's 50-day moving average is $25.45 and its 200 day moving average is $25.73.

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

Insider Buying and Selling

In other Damora Therapeutics, Inc. Common Stock news, CEO Jennifer Jarrett bought 12,500 shares of Damora Therapeutics, Inc. Common Stock stock in a transaction 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 acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 made changes to their positions in DMRA. Braidwell LP purchased a new stake in Damora Therapeutics, Inc. Common Stock during the second quarter worth about $42,146,000. Seven Fleet Capital Management LP acquired a new position in Damora Therapeutics, Inc. Common Stock during the second quarter worth about $7,398,000. Squarepoint Ops LLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the second quarter worth about $303,000. Finally, Arizona State Retirement System purchased a new position in Damora Therapeutics, Inc. Common Stock in the second quarter valued at about $260,000. Hedge funds and other institutional investors own 14.20% of the company's stock.

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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