Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Down 5.5% – Here’s What Happened

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shares fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $26.82 and last traded at $26.84. 23,758 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 381,676 shares. The stock had previously closed at $28.39.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. 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 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday. Wedbush upped 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 research report on Thursday, July 30th. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research note on Monday, August 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $44.00.

Damora Therapeutics, Inc. Common Stock Price Performance

The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -7.28 and a beta of 1.46. The stock has a fifty day moving average of $29.61 and a two-hundred day moving average of $26.69.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last issued its quarterly earnings results 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, research analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current year.

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

A number of institutional investors have recently modified their holdings of DMRA. Seven Fleet Capital Management LP bought a new position in Damora Therapeutics, Inc. Common Stock during the second quarter worth $7,398,000. Braidwell LP acquired a new position in Damora Therapeutics, Inc. Common Stock in the second quarter valued at $42,146,000. Squarepoint Ops LLC acquired a new position in Damora Therapeutics, Inc. Common Stock in the second quarter valued at $303,000. Finally, Arizona State Retirement System acquired a new stake in Damora Therapeutics, Inc. Common Stock during the 2nd quarter worth about $260,000. 14.20% of the stock is owned by institutional investors.

Damora Therapeutics, Inc. Common Stock Company Profile

Galecto, Inc, a clinical-stage biotechnology company, develops molecules for the treatment of fibrosis, cancer, inflammation, and other related diseases. The company's lead product candidate is GB2064, which is in Phase IIa for the treatment of myelofibrosis. It also develops GB2064, a selective oral small molecule inhibitor of LOXL2 that is in Phase 2a clinical trial for the treatment of fibrotic diseases, including cancer and myelofibrosis; and GB1211, a selective oral galectin-3 inhibitor that is in Phase IIa for the treatment of cancer, as well as in Phase Ib/IIa for fibrosis.