Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Gap Up After Insider Buying Activity

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shares gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $20.66, but opened at $21.26. Damora Therapeutics, Inc. Common Stock shares last traded at $20.12, with a volume of 89,337 shares trading hands.

Specifically, CEO Jennifer Jarrett purchased 12,500 shares of the company’s stock in a transaction dated Friday, September 25th. The shares were acquired at an average cost of $20.23 per share, for a total transaction of $252,875.00. Following the completion of the purchase, the chief executive officer directly owned 512,500 shares in the company, valued at $10,367,875. The trade was a 2.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DMRA shares. Jefferies Financial Group started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They issued a “buy” rating and a $50.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. Guggenheim lifted their price target on Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Finally, TD Cowen upgraded Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research report on Monday, August 24th. 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 assigned a Sell rating to the company. According to MarketBeat, Damora Therapeutics, Inc. Common Stock currently has an average rating of “Buy” and a consensus target price of $46.50.

Damora Therapeutics, Inc. Common Stock Trading Down 2.6%

The firm has a 50 day moving average price of $28.43 and a 200-day moving average price of $26.33. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -5.97 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last issued 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, equities analysts expect that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at approximately $303,000. Arizona State Retirement System purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at $260,000. Seven Fleet Capital Management LP purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at $7,398,000. Finally, Braidwell LP acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at $42,146,000. 14.20% of the stock is currently owned by institutional investors and hedge funds.

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.