Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Shares Gap Down – Here’s Why

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) gapped down before the market opened on Thursday. The stock had previously closed at $21.28, but opened at $20.51. Damora Therapeutics, Inc. Common Stock shares last traded at $20.77, with a volume of 20,170 shares trading hands.

Wall Street Analyst Weigh In

DMRA has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, September 14th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a report on Tuesday. Jefferies Financial Group initiated coverage on Damora Therapeutics, Inc. Common Stock in a report on Monday, July 27th. They set a “buy” rating and a $50.00 price objective for the company. Guggenheim upped their target price on Damora Therapeutics, Inc. Common Stock from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, September 25th. Finally, TD Cowen raised Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $46.50.

Damora Therapeutics, Inc. Common Stock Price Performance

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -6.11 and a beta of 1.46. The business has a fifty day moving average price of $27.76 and a two-hundred day moving average price of $26.17.

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, topping the consensus estimate of ($0.45) by $0.06. On average, research analysts predict that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jennifer Jarrett acquired 12,500 shares of Damora Therapeutics, Inc. Common Stock stock in a transaction on Friday, September 25th. The stock was acquired at an average price of $20.23 per share, for a total transaction of $252,875.00. Following the purchase, the chief executive officer owned 512,500 shares of the company’s stock, valued at approximately $10,367,875. This represents a 2.50% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company’s stock.

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

Hedge funds have recently bought and sold shares of the stock. Seven Fleet Capital Management LP acquired a new position in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at $7,398,000. Braidwell LP purchased 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 shares of Damora Therapeutics, Inc. Common Stock in the second quarter worth about $303,000. Finally, Arizona State Retirement System purchased a new stake in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter worth about $260,000. Hedge funds and other institutional investors own 14.20% of the company’s stock.

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.