Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) Trading Down 9.6% – Here’s What Happened

Shares of Damora Therapeutics, Inc. Common Stock (NASDAQ:DMRA) dropped 9.6% on Friday . The company traded as low as $23.13 and last traded at $23.18. Approximately 24,566 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 235,007 shares. The stock had previously closed at $25.63.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Leerink Partners began coverage on Damora Therapeutics, Inc. Common Stock in a report on Wednesday, January 7th. They set an “outperform” rating and a $46.00 price target on the stock. Zacks Research upgraded shares of Damora Therapeutics, Inc. Common Stock to a “hold” rating in a research note on Friday, January 9th. Lifesci Capital upgraded shares of Damora Therapeutics, Inc. Common Stock to a “strong-buy” rating in a research report on Monday, February 2nd. Evercore started coverage on shares of Damora Therapeutics, Inc. Common Stock in a research note on Wednesday. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Damora Therapeutics, Inc. Common Stock in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Damora Therapeutics, Inc. Common Stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.25.

Damora Therapeutics, Inc. Common Stock Stock Performance

The business has a 50 day moving average of $27.02 and a two-hundred day moving average of $19.77. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -2.11 and a beta of 1.42.

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

A number of institutional investors have recently modified their holdings of DMRA. Janus Henderson Group PLC bought a new position in shares of Damora Therapeutics, Inc. Common Stock in the 4th quarter worth $40,000. Geode Capital Management LLC acquired a new stake in Damora Therapeutics, Inc. Common Stock in the 4th quarter valued at $266,000. Virtu Financial LLC bought a new stake in Damora Therapeutics, Inc. Common Stock during the 3rd quarter valued at $49,000. Sigma Planning Corp acquired a new position in Damora Therapeutics, Inc. Common Stock during the fourth quarter worth $334,000. Finally, Two Sigma Investments LP acquired a new position in Damora Therapeutics, Inc. Common Stock during the third quarter worth $76,000. 14.20% of the stock is owned by institutional investors and hedge funds.

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.