Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Up 7.8% – Should You Buy?

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) traded up 7.8% during mid-day trading on Monday . The stock traded as high as $33.95 and last traded at $33.95. Approximately 72,024 shares were traded during trading, a decline of 81% from the average daily volume of 382,445 shares. The stock had previously closed at $31.48.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DMRA. Royal Bank Of Canada initiated coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Friday, April 24th. They issued an “outperform” rating and a $40.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $35.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 18th. TD Cowen started coverage on Damora Therapeutics, Inc. Common Stock in a research note on Monday, June 8th. They set a “buy” rating for the company. Finally, HC Wainwright began coverage on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 11th. They set a “buy” rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.43.

Damora Therapeutics, Inc. Common Stock Stock Up 10.1%

The stock has a market capitalization of $2.13 billion, a PE ratio of -6.21 and a beta of 1.46. The firm has a 50 day moving average price of $24.88 and a 200 day moving average price of $25.51.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.23). On average, equities analysts forecast that Damora Therapeutics, Inc. Common Stock will post -1.92 earnings per share for the current fiscal year.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ikarian Capital LLC bought a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at about $6,574,000. Jain Global LLC purchased a new position in Damora Therapeutics, Inc. Common Stock during the 4th quarter valued at about $2,774,000. Remedium Capital Partners LLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the 4th quarter worth approximately $2,772,000. Boothbay Fund Management LLC purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $2,204,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the third quarter worth $100,000. 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.