Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Releases Earnings Results, Beats Expectations By $0.12 EPS

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) posted its quarterly earnings data on Wednesday. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.12, FiscalAI reports.

Damora Therapeutics, Inc. Common Stock Stock Down 8.2%

Damora Therapeutics, Inc. Common Stock stock traded down $1.87 during trading hours on Thursday, hitting $21.07. The stock had a trading volume of 184,073 shares, compared to its average volume of 430,652. The business’s 50 day simple moving average is $23.03 and its 200-day simple moving average is $25.74. Damora Therapeutics, Inc. Common Stock has a one year low of $4.95 and a one year high of $38.33. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -6.25 and a beta of 1.52.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DMRA shares. TD Cowen upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, September 29th. Jefferies Financial Group started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They set a “buy” rating and a $50.00 price target on the stock. Wall Street Zen lowered Damora Therapeutics, Inc. Common Stock from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research note on Monday, September 14th. Three 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $46.50.

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

In other news, CEO Jennifer Jarrett acquired 12,500 shares of the stock in a transaction dated Friday, September 25th. The stock was bought at an average price of $20.23 per share, with a total value of $252,875.00. Following the completion of the purchase, the chief executive officer directly owned 512,500 shares of the company’s stock, valued at $10,367,875. This represents a 2.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Damora Therapeutics, Inc. Common Stock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter worth $303,000. Arizona State Retirement System bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at about $260,000. Seven Fleet Capital Management LP bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 2nd quarter valued at about $7,398,000. Finally, Braidwell LP acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock in the second quarter valued at about $42,146,000. 14.20% of the stock is currently 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.