Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Up 7.8% - Still a Buy?

Key Points

• DMRA shares rose 7.8% to about $30.17, although trading volume was 49% below the stock’s average daily volume.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and a consensus price target of $44, with recent targets ranging from $40 to $50. One firm, however, maintained a “sell” rating.
• The clinical-stage biotechnology company beat quarterly EPS expectations, reporting a loss of $0.39 versus the projected $0.45 loss; institutional investors own approximately 14.2% of its shares.

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA - Get Free Report) shot up 7.8% on Friday . The stock traded as high as $30.19 and last traded at $30.17. 193,325 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 379,118 shares. The stock had previously closed at $28.00.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wedbush raised their target price on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, July 30th. TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a "strong-buy" rating in a research report on Monday, August 24th. Jefferies Financial Group assumed coverage on Damora Therapeutics, Inc. Common Stock in a research note on Monday, July 27th. They issued a "buy" rating and a $50.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 18th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Up 6.6%

The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -8.85 and a beta of 1.46. The company's 50-day simple moving average is $29.64 and its 200-day simple moving average is $26.87.

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

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

A number of institutional investors have recently bought and sold shares of DMRA. Janus Henderson Group PLC purchased a new stake in Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at about $40,000. Geode Capital Management LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $266,000. Virtu Financial LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the third quarter valued at approximately $49,000. Sigma Planning Corp purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at approximately $334,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 3rd quarter valued at approximately $76,000. Hedge funds and other institutional investors own 14.20% of the company's stock.

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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