Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Down 8.7% – What’s Next?

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) were down 8.7% on Wednesday. The stock traded as low as $20.46 and last traded at $20.46. 190,741 shares were traded during trading, a decline of 54% from the average session volume of 412,828 shares. The stock had previously closed at $22.41.

Analysts Set New Price Targets

Several research firms have issued reports on DMRA. Wedbush increased 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 report on Thursday, July 30th. Jefferies Financial Group began coverage on Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They issued a “buy” rating and a $50.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, September 14th. Finally, TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Damora Therapeutics, Inc. Common Stock currently has an average rating of “Buy” and a consensus target price of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Performance

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -6.01 and a beta of 1.46. The firm’s 50-day moving average price is $28.64 and its two-hundred day moving average price is $26.38.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.06. As a group, sell-side analysts expect that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current fiscal year.

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

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