DelMar Pharmaceuticals (DMPI) Stock Price Down 8.4%
DelMar Pharmaceuticals Inc (NASDAQ:DMPI)’s share price traded down 8.4% during trading on Wednesday . The company traded as low as $1.40 and last traded at $1.42. 1,019,279 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 1,631,491 shares. The stock had previously closed at $1.55.
Separately, HC Wainwright set a $12.00 price target on DelMar Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, January 4th.
The stock has a market capitalization of $30.67, a price-to-earnings ratio of -2.09 and a beta of 1,227.20.
In other DelMar Pharmaceuticals news, CEO Saiid Zarrabian acquired 60,900 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of $0.82 per share, for a total transaction of $49,938.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Several hedge funds have recently modified their holdings of DMPI. Franklin Resources Inc. purchased a new stake in shares of DelMar Pharmaceuticals in the second quarter worth $2,477,000. Sabby Management LLC purchased a new stake in shares of DelMar Pharmaceuticals in the second quarter worth $1,484,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of DelMar Pharmaceuticals in the third quarter worth $306,000. Institutional investors own 16.91% of the company’s stock.
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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