Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Price Up 10.5% – Here’s Why

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) rose 10.5% on Monday . The company traded as high as $23.90 and last traded at $23.46. Approximately 22,282 shares traded hands during trading, a decline of 92% from the average daily volume of 289,093 shares. The stock had previously closed at $21.23.

Analyst Upgrades and Downgrades

DMRA has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $35.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research report on Friday, June 12th. TD Cowen initiated coverage on Damora Therapeutics, Inc. Common Stock in a research note on Monday, June 8th. They issued a “buy” rating for the company. HC Wainwright assumed coverage on Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 11th. They issued a “buy” rating and a $45.00 price target for the company. Evercore assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Wednesday, March 25th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a report on Friday, April 24th. They set an “outperform” rating and a $40.00 price objective on the stock. Two equities 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.43.

Damora Therapeutics, Inc. Common Stock Trading Up 17.4%

The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -4.47 and a beta of 1.46. The firm has a fifty day simple moving average of $24.10 and a 200-day simple moving average of $25.53.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last released its earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.23). On average, equities analysts predict 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 hedge funds and other institutional investors have recently added to or reduced their stakes in DMRA. Ikarian Capital LLC bought a new stake in Damora Therapeutics, Inc. Common Stock during the 4th quarter worth about $6,574,000. Janus Henderson Group PLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at about $40,000. Boothbay Fund Management LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the 4th quarter worth approximately $2,204,000. Jain Global LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the 4th quarter worth approximately $2,774,000. Finally, Remedium Capital Partners LLC bought a new stake in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth approximately $2,772,000. 14.20% of the stock is currently owned by institutional investors and hedge funds.

Damora Therapeutics, Inc. Common Stock Company Profile

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.