Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Down 7.4% – Here’s What Happened

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA)’s stock price fell 7.4% during mid-day trading on Monday . The company traded as low as $23.38 and last traded at $23.48. Approximately 82,037 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 362,017 shares. The stock had previously closed at $25.36.

Wall Street Analyst Weigh In

DMRA has been the subject of several recent research reports. Royal Bank Of Canada assumed coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Friday, April 24th. They set an “outperform” rating and a $40.00 target price for the company. HC Wainwright began coverage on Damora Therapeutics, Inc. Common Stock in a research note on Thursday, June 11th. They set a “buy” rating and a $45.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $35.00 price objective on shares of Damora Therapeutics, Inc. Common Stock in a research note on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Thursday, June 18th. Finally, Evercore initiated coverage on shares of Damora Therapeutics, Inc. Common Stock in a research report on Wednesday, March 25th. They set an “outperform” rating and a $46.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

Damora Therapeutics, Inc. Common Stock Price Performance

The company has a 50-day moving average price of $23.78 and a 200-day moving average price of $25.52. The firm has a market capitalization of $1.47 billion, a PE ratio of -4.28 and a beta of 1.46.

Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.23). On average, research analysts predict that Damora Therapeutics, Inc. Common Stock will post -1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DMRA. Ikarian Capital LLC acquired a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at approximately $6,574,000. Janus Henderson Group PLC bought a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter worth about $40,000. Boothbay Fund Management LLC acquired a new stake in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at about $2,204,000. Jain Global LLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock during the fourth quarter worth about $2,774,000. Finally, Remedium Capital Partners LLC bought a new stake in Damora Therapeutics, Inc. Common Stock in the fourth quarter valued at about $2,772,000. Hedge funds and other 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.