Shares of DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) hit a new 52-week low on Friday . The stock traded as low as $1.08 and last traded at $1.10, with a volume of 59,175 shares changing hands. The stock had previously closed at $1.17.
Several analysts recently weighed in on the stock. Maxim Group set a $11.00 price objective on shares of DelMar Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, May 25th. HC Wainwright set a $12.00 price objective on shares of DelMar Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, June 24th. Finally, Dawson James reiterated a “buy” rating on shares of DelMar Pharmaceuticals in a research report on Tuesday, August 8th.
The stock’s market cap is $14.94 million. The firm’s 50 day moving average is $1.48 and its 200 day moving average is $2.53.
A hedge fund recently bought a new stake in DelMar Pharmaceuticals stock. Franklin Resources Inc. bought a new position in DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,076,923 shares of the company’s stock, valued at approximately $2,477,000. Institutional investors 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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