Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Up 7.8% – Here’s Why

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s share price rose 7.8% during mid-day trading on Friday . The company traded as high as $30.19 and last traded at $30.17. 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.

Analyst Upgrades and Downgrades

DMRA has been the subject of several recent research reports. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, July 21st. Wedbush raised their price objective on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 18th. Finally, Jefferies Financial Group began coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They set a “buy” rating and a $50.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, seven have issued 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 stock presently has an average rating of “Buy” and an average target price of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Performance

The company has a market cap of $1.86 billion, a PE ratio of -8.92 and a beta of 1.46. The business’s 50-day moving average is $29.74 and its 200 day moving average is $26.89.

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. Equities research analysts anticipate that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current fiscal year.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

Hedge funds have recently modified their holdings of the business. Braidwell LP purchased a new position in Damora Therapeutics, Inc. Common Stock during the second quarter valued at $42,146,000. California State Teachers Retirement System purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter worth $27,429,000. Ikarian Capital LLC purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $6,574,000. Seven Fleet Capital Management LP bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at $7,398,000. Finally, Jain Global LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at $2,774,000. 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.