Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading 4% Higher – Still a Buy?

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) rose 4% during trading on Thursday . The stock traded as high as $27.61 and last traded at $27.32. 35,591 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 379,489 shares. The stock had previously closed at $26.27.

Analyst Ratings Changes

DMRA has been the subject of a number of recent analyst reports. 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 target price for the company. Wedbush raised their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, July 21st. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $44.00.

Damora Therapeutics, Inc. Common Stock Trading Up 3.7%

The stock has a market cap of $1.68 billion, a PE ratio of -8.09 and a beta of 1.46. The firm has a fifty day simple moving average of $29.90 and a two-hundred day simple moving average of $26.84.

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

Institutional Trading of Damora Therapeutics, Inc. Common Stock

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC purchased a new position in Damora Therapeutics, Inc. Common Stock in the fourth quarter worth $40,000. Arizona State Retirement System bought a new stake in Damora Therapeutics, Inc. Common Stock during the second quarter worth about $260,000. Geode Capital Management LLC bought a new stake in Damora Therapeutics, Inc. Common Stock during the fourth quarter worth about $266,000. Squarepoint Ops LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth about $303,000. Finally, Virtu Financial LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the 3rd quarter worth about $49,000. 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.