Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Up 8.5% – What’s Next?

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shot up 8.5% during mid-day trading on Tuesday . The company traded as high as $26.33 and last traded at $26.33. 11,636 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 233,917 shares. The stock had previously closed at $24.27.

Analysts Set New Price Targets

A number of research firms recently weighed in on DMRA. Evercore began 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 target price on the stock. UBS Group began coverage on Damora Therapeutics, Inc. Common Stock in a report on Tuesday, February 17th. They set a “buy” rating and a $45.00 price target on the stock. Wall Street Zen raised Damora Therapeutics, Inc. Common Stock from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Leerink Partners initiated coverage on Damora Therapeutics, Inc. Common Stock in a research report on Wednesday, January 7th. They set an “outperform” rating and a $46.00 target price for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.25.

Damora Therapeutics, Inc. Common Stock Trading Up 6.2%

The firm has a market cap of $1.55 billion, a PE ratio of -2.13 and a beta of 1.42. The firm’s 50 day simple moving average is $27.00 and its 200 day simple moving average is $20.04.

Hedge Funds Weigh In On Damora Therapeutics, Inc. Common Stock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ikarian Capital LLC purchased a new position in Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at approximately $6,574,000. Janus Henderson Group PLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at approximately $40,000. Boothbay Fund Management LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at $2,204,000. Jain Global LLC bought a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $2,774,000. Finally, Remedium Capital Partners LLC bought a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $2,772,000. 14.20% of the stock is owned by 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.