Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Down 8% – Should You Sell?

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) shares fell 8% during mid-day trading on Wednesday . The stock traded as low as $27.44 and last traded at $27.59. Approximately 256,776 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 375,752 shares. The stock had previously closed at $30.00.

Analysts Set New Price Targets

Several brokerages recently weighed in on DMRA. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Damora Therapeutics, Inc. Common Stock in a report on Friday, June 12th. TD Cowen assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, June 8th. They issued a “buy” rating on the stock. Royal Bank Of Canada initiated coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Friday, April 24th. They issued an “outperform” rating and a $40.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Thursday, June 18th. Finally, HC Wainwright started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 11th. They set a “buy” rating and a $45.00 target price for the company. Two investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.43.

Damora Therapeutics, Inc. Common Stock Stock Down 3.6%

The company has a market cap of $1.83 billion, a price-to-earnings ratio of -5.32 and a beta of 1.46. The business’s fifty day simple moving average is $24.24 and its two-hundred day simple moving average is $25.50.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last posted its earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.23). Sell-side analysts predict that Damora Therapeutics, Inc. Common Stock will post -1.92 EPS for the current fiscal year.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter worth approximately $40,000. Geode Capital Management LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth approximately $266,000. Virtu Financial LLC purchased a new position in shares of Damora Therapeutics, Inc. Common Stock during the third quarter worth approximately $49,000. Sigma Planning Corp acquired a new position in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at $334,000. Finally, Two Sigma Investments LP acquired a new position in shares of Damora Therapeutics, Inc. Common Stock in the 3rd quarter valued at $76,000. Institutional investors and hedge funds own 14.20% of the company’s stock.

Damora Therapeutics, Inc. Common Stock Company Profile

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.