Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Down 8.7% – Here’s What Happened

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s stock price was down 8.7% during trading on Wednesday . The stock traded as low as $20.46 and last traded at $20.46. 190,741 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 412,828 shares. The stock had previously closed at $22.41.

Analyst Upgrades and Downgrades

DMRA has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, September 14th. Jefferies Financial Group started coverage on shares of 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. Wedbush boosted their target price on shares of Damora Therapeutics, Inc. Common Stock from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research note on Monday, August 24th. Three equities research 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $44.00.

Damora Therapeutics, Inc. Common Stock Stock Performance

The stock’s 50 day simple moving average is $29.05 and its 200 day simple moving average is $26.50. The firm has a market cap of $1.26 billion, a P/E ratio of -6.07 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last posted its earnings results on Monday, August 10th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.06. As a group, analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 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. Seven Fleet Capital Management LP purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at about $7,398,000. Braidwell LP purchased a new stake in Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at about $42,146,000. Squarepoint Ops LLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at about $303,000. Finally, Arizona State Retirement System bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter worth approximately $260,000. 14.20% of the stock is owned by hedge funds and other 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.