Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Up 8.4% – Here’s What Happened

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s stock price rose 8.4% during trading on Monday . The company traded as high as $19.84 and last traded at $19.66. Approximately 35,306 shares traded hands during trading, a decline of 85% from the average daily volume of 231,829 shares. The stock had previously closed at $18.14.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DMRA. Wall Street Zen upgraded shares of Damora Therapeutics, Inc. Common Stock from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Leerink Partners assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Wednesday, January 7th. They set an “outperform” rating and a $46.00 target price on the stock. Zacks Research raised shares of Damora Therapeutics, Inc. Common Stock to a “hold” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Damora Therapeutics, Inc. Common Stock in a research report on Monday, December 29th. Finally, UBS Group assumed coverage on Damora Therapeutics, Inc. Common Stock in a research note on Tuesday, February 17th. They issued a “buy” rating and a $45.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.67.

Damora Therapeutics, Inc. Common Stock Stock Up 3.8%

The stock has a 50 day moving average of $26.97 and a 200 day moving average of $19.41. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -1.98 and a beta of 1.42.

Institutional Trading of Damora Therapeutics, Inc. Common Stock

Institutional investors and hedge funds have recently made changes to their positions in the company. Ikarian Capital LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock during the 4th quarter worth approximately $6,574,000. Boothbay Fund Management LLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $2,204,000. Jain Global LLC acquired a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter valued at approximately $2,774,000. Remedium Capital Partners LLC bought a new stake in Damora Therapeutics, Inc. Common Stock during the fourth quarter worth $2,772,000. Finally, Geode Capital Management LLC bought a new stake in Damora Therapeutics, Inc. Common Stock during the fourth quarter worth $266,000. 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.