Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Down 9.6% – Here’s What Happened

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s stock price traded down 9.6% during trading on Wednesday . The stock traded as low as $18.82 and last traded at $18.94. 147,571 shares traded hands during trading, a decline of 46% from the average session volume of 270,993 shares. The stock had previously closed at $20.96.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, February 17th. They set a “buy” rating and a $45.00 price objective for the company. Evercore assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Wednesday, March 25th. They set an “outperform” rating and a $46.00 price objective for the company. Wedbush assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, May 28th. They set an “outperform” rating and a $35.00 price objective for the company. TD Cowen assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday. They set a “buy” rating for the company. Finally, Royal Bank Of Canada assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Friday, April 24th. They set an “outperform” rating and a $40.00 price objective for the company. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, Damora Therapeutics, Inc. Common Stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.43.

Damora Therapeutics, Inc. Common Stock Price Performance

The business’s 50 day moving average is $24.59 and its two-hundred day moving average is $25.37. The firm has a market capitalization of $1.31 billion, a PE ratio of -3.83 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last announced its earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.23). Analysts expect that Damora Therapeutics, Inc. Common Stock will post -2.13 EPS 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 bought and sold shares of the stock. Janus Henderson Group PLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at approximately $40,000. Geode Capital Management LLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at approximately $266,000. Virtu Financial LLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the third quarter valued at approximately $49,000. Sigma Planning Corp purchased a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at approximately $334,000. Finally, Two Sigma Investments LP purchased a new stake in Damora Therapeutics, Inc. Common Stock in the third quarter valued at approximately $76,000. 14.20% of the stock is owned by hedge funds and other institutional investors.

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.