Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Up 7.8% – Time to Buy?

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

Wall Street Analysts Forecast Growth

DMRA has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 18th. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Finally, Wedbush boosted their target price on 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. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $44.00.

Damora Therapeutics, Inc. Common Stock Price Performance

The stock has a market capitalization of $1.84 billion, a P/E ratio of -8.85 and a beta of 1.46. The stock’s fifty day moving average is $29.64 and its 200-day moving average is $26.87.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new stake in Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $40,000. Geode Capital Management LLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $266,000. Virtu Financial LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock in the third quarter valued at approximately $49,000. Sigma Planning Corp bought a new position in shares of Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at approximately $334,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock in the third quarter worth $76,000. 14.20% of the stock is owned by institutional investors.

Damora Therapeutics, Inc. Common Stock Company Profile

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.