Diffusion Pharmaceuticals (NASDAQ:DFFN) Sees Strong Trading Volume

Shares of Diffusion Pharmaceuticals Inc (NASDAQ:DFFN) saw an uptick in trading volume on Wednesday . 23,068,846 shares were traded during trading, an increase of 2,460% from the previous session’s volume of 901,020 shares.The stock last traded at $0.57 and had previously closed at $0.43.

Separately, ValuEngine raised shares of Diffusion Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday.

The company’s 50-day simple moving average is $0.59 and its 200 day simple moving average is $1.90. The company has a quick ratio of 5.52, a current ratio of 5.52 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.18 million, a price-to-earnings ratio of -0.09 and a beta of -0.22.

Diffusion Pharmaceuticals (NASDAQ:DFFN) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. On average, equities analysts expect that Diffusion Pharmaceuticals Inc will post -2.89 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Anson Funds Management LP acquired a new position in shares of Diffusion Pharmaceuticals during the 2nd quarter valued at about $933,000. Wells Fargo & Company MN acquired a new stake in Diffusion Pharmaceuticals in the 2nd quarter worth approximately $427,000. Finally, Acadian Asset Management LLC acquired a new stake in Diffusion Pharmaceuticals in the 2nd quarter worth approximately $48,000. 14.41% of the stock is currently owned by institutional investors and hedge funds.

About Diffusion Pharmaceuticals (NASDAQ:DFFN)

Diffusion Pharmaceuticals Inc, a clinical stage biotechnology company, develops treatments for life-threatening medical conditions. Its lead product candidate is transcrocetinate sodium, which is in Phase III trials for the treatment of glioblastoma multiforme (GBM); Phase II clinical trials for the treatment of pancreatic cancer and metastatic brain cancer; and Phase II trial for the treatment of acute stroke.

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