Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Stock Falls 7% – Here’s Why

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) were down 7% on Tuesday. The company traded as low as $18.81 and last traded at $18.84. 119,287 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 429,429 shares. The stock had previously closed at $20.25.

Analyst Ratings Changes

A number of brokerages have commented on DMRA. TD Cowen raised shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. Wall Street Zen raised shares of Damora Therapeutics, Inc. Common Stock from a “sell” rating to a “hold” rating in a report on Sunday. Jefferies Financial Group started coverage on Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. 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 given a Sell rating to the stock. According to data from MarketBeat, Damora Therapeutics, Inc. Common Stock currently has an average rating of “Buy” and an average target price of $46.50.

Damora Therapeutics, Inc. Common Stock Stock Up 1.8%

The firm has a market capitalization of $1.16 billion, a PE ratio of -5.57 and a beta of 1.43. The company’s 50-day simple moving average is $25.90 and its 200 day simple moving average is $25.82.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.06. On average, sell-side analysts forecast that Damora Therapeutics, Inc. Common Stock will post -2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Damora Therapeutics, Inc. Common Stock

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 Trading of Damora Therapeutics, Inc. Common Stock

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System purchased a new stake in Damora Therapeutics, Inc. Common Stock during the 2nd quarter worth approximately $260,000. Squarepoint Ops LLC acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at approximately $303,000. Seven Fleet Capital Management LP acquired a new position in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at approximately $7,398,000. Finally, Braidwell LP purchased a new position in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at approximately $42,146,000. 14.20% of the stock is owned by institutional investors and hedge funds.

About Damora Therapeutics, Inc. Common Stock

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.