Shares of DelMar Pharmaceuticals Inc (NASDAQ:DMPI) rose 15.2% on Monday . The stock traded as high as $1.75 and last traded at $1.67. Approximately 2,860,300 shares traded hands during trading, an increase of 11% from the average daily volume of 2,577,425 shares. The stock had previously closed at $1.45.
Separately, HC Wainwright set a $12.00 price objective on shares of DelMar Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, January 4th.
The firm has a market cap of $34.13, a PE ratio of -2.32 and a beta of 1,227.20.
In other DelMar Pharmaceuticals news, CEO Saiid Zarrabian purchased 60,900 shares of DelMar Pharmaceuticals stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average price of $0.82 per share, for a total transaction of $49,938.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
A number of hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP purchased a new stake in DelMar Pharmaceuticals in the 3rd quarter valued at $306,000. Sabby Management LLC purchased a new stake in DelMar Pharmaceuticals in the 2nd quarter valued at $1,484,000. Finally, Franklin Resources Inc. purchased a new stake in DelMar Pharmaceuticals in the 2nd quarter valued at $2,477,000. Hedge funds and other institutional investors own 16.91% of the company’s stock.
DelMar Pharmaceuticals Company Profile
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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