Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Share Price Crosses Above Fifty Day Moving Average on Analyst Downgrade

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shares passed above its fifty day moving average during trading on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock has a fifty day moving average of $22.72 and traded as high as $24.25. Damora Therapeutics, Inc. Common Stock shares last traded at $23.70, with a volume of 360,452 shares traded.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group began coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, July 27th. They issued a “buy” rating and a $50.00 price objective for the company. TD Cowen raised Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a report on Monday, August 24th. Guggenheim boosted 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. Wedbush reiterated an “outperform” rating and issued a $40.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, September 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of Damora Therapeutics, Inc. Common Stock in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $46.38.

Insider Transactions at Damora Therapeutics, Inc. Common Stock

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

Institutional Trading of Damora Therapeutics, Inc. Common Stock

Hedge funds 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 second quarter valued at $260,000. Squarepoint Ops LLC bought a new position in Damora Therapeutics, Inc. Common Stock in the 2nd quarter worth about $303,000. Seven Fleet Capital Management LP bought a new stake in shares of Damora Therapeutics, Inc. Common Stock during the second quarter valued at approximately $7,398,000. Finally, Braidwell LP bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the 2nd quarter worth $42,146,000. Hedge funds and other institutional investors own 14.20% of the company’s stock.

Damora Therapeutics, Inc. Common Stock Price Performance

The business has a 50-day moving average of $22.72 and a two-hundred day moving average of $25.70. The company has a market cap of $1.46 billion, a P/E ratio of -7.03 and a beta of 1.52.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.12. Equities analysts anticipate that Damora Therapeutics, Inc. Common Stock will post -2.06 EPS for the current fiscal year.

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.