Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading 4% Higher – Here’s Why

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s stock price shot up 4% on Thursday . The company traded as high as $27.61 and last traded at $27.32. 35,591 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 379,489 shares. The stock had previously closed at $26.27.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They set a “buy” rating and a $50.00 price target on the stock. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Wedbush upped 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 research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $44.00.

Damora Therapeutics, Inc. Common Stock Trading Up 3.7%

The firm has a fifty day moving average of $29.90 and a two-hundred day moving average of $26.84. The company has a market capitalization of $1.68 billion, a PE ratio of -8.09 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last announced its quarterly earnings data 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, equities analysts expect that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at about $40,000. Arizona State Retirement System bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter worth about $260,000. Geode Capital Management LLC purchased a new position in Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at about $266,000. Squarepoint Ops LLC purchased a new position in Damora Therapeutics, Inc. Common Stock during the 2nd quarter valued at about $303,000. Finally, Virtu Financial LLC bought a new position in Damora Therapeutics, Inc. Common Stock during the 3rd quarter valued at approximately $49,000. 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.