Shares of DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.19 and last traded at $1.20, with a volume of 55,409 shares. The stock had previously closed at $1.28.

DMPI has been the subject of a number of recent analyst reports. Maxim Group reissued a “buy” rating and set a $11.00 price objective on shares of DelMar Pharmaceuticals in a research report on Friday, June 23rd. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of DelMar Pharmaceuticals in a research report on Tuesday, May 30th. Finally, Dawson James reissued a “buy” rating on shares of DelMar Pharmaceuticals in a research report on Tuesday, August 8th.

The firm’s 50-day moving average is $1.63 and its 200-day moving average is $2.66.

A hedge fund recently bought a new stake in DelMar Pharmaceuticals stock. Franklin Resources Inc. acquired a new position in DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,076,923 shares of the company’s stock, valued at approximately $2,477,000. Institutional investors and hedge funds own 13.84% of the company’s stock.

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About DelMar Pharmaceuticals

DelMar Pharmaceuticals, Inc is a clinical-stage drug development company. The Company focuses on the treatment of cancer. The Company is engaged in conducting clinical trials in the United States with its product candidate, VAL-083, as a treatment for glioblastoma multiforme (GBM), a form of brain cancer.

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