DelMar Pharmaceuticals (NASDAQ:DMPI) Shares Down 4.7%

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DelMar Pharmaceuticals Inc (NASDAQ:DMPI) shares dropped 4.7% during trading on Thursday . The stock traded as low as $0.89 and last traded at $1.01, approximately 12,872 shares traded hands during mid-day trading. A decline of 97% from the average daily volume of 376,278 shares. The stock had previously closed at $1.06.

Several brokerages recently issued reports on DMPI. ValuEngine raised DelMar Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Maxim Group assumed coverage on DelMar Pharmaceuticals in a research report on Saturday, June 6th. They issued a “buy” rating and a $2.00 price objective for the company. Finally, Zacks Investment Research downgraded DelMar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 14th.

The business has a 50-day simple moving average of $0.74 and a two-hundred day simple moving average of $0.61. The stock has a market capitalization of $15.49 million, a price-to-earnings ratio of -0.75 and a beta of 1.72.

DelMar Pharmaceuticals (NASDAQ:DMPI) last released its earnings results on Wednesday, May 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.06). Research analysts anticipate that DelMar Pharmaceuticals Inc will post -0.59 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in DelMar Pharmaceuticals stock. Barclays PLC purchased a new position in DelMar Pharmaceuticals Inc (NASDAQ:DMPI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 89,488 shares of the company’s stock, valued at approximately $62,000. Barclays PLC owned about 0.79% of DelMar Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 1.94% of the company’s stock.

About DelMar Pharmaceuticals (NASDAQ:DMPI)

DelMar Pharmaceuticals, Inc, a clinical stage drug development company, focuses on developing and commercializing anti-cancer therapies to treat cancer patients who have failed to respond to modern therapy. Its product candidate includes VAL-083, a DNA-targeting agent, which is in Phase II clinical study for the treatment of glioblastoma multiforme (GBM), as well as other solid tumors, including ovarian cancer.

See Also: Earnings Per Share (EPS)

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