Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Down 6.1% – Here’s Why

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) dropped 6.1% on Wednesday . The company traded as low as $27.39 and last traded at $27.39. 40,731 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 378,731 shares. The stock had previously closed at $29.17.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DMRA. Jefferies Financial Group assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, July 27th. They issued a “buy” rating and a $50.00 price objective on the stock. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Wedbush lifted their price target 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. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Thursday, June 18th. Three investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $44.00.

Damora Therapeutics, Inc. Common Stock Price Performance

The firm’s fifty day simple moving average is $29.92 and its 200 day simple moving average is $26.87. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -8.07 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.06. Equities research analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current fiscal year.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

A number of hedge funds have recently modified their holdings of DMRA. Janus Henderson Group PLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $40,000. Virtu Financial LLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the third quarter valued at $49,000. Two Sigma Investments LP acquired a new position in Damora Therapeutics, Inc. Common Stock during the third quarter valued at $76,000. Connective Capital Management LLC purchased a new stake in Damora Therapeutics, Inc. Common Stock in the 3rd quarter worth about $100,000. Finally, Arizona State Retirement System purchased a new stake in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth about $260,000. Hedge funds and other 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.