Diffusion Pharmaceuticals (NASDAQ:DFFN) Sees Strong Trading Volume

Shares of Diffusion Pharmaceuticals Inc (NASDAQ:DFFN) saw an uptick in trading volume on Wednesday . 50,469,900 shares were traded during trading, an increase of 9,909% from the previous session’s volume of 504,262 shares.The stock last traded at $0.37 and had previously closed at $0.22.

Separately, ValuEngine downgraded shares of Diffusion Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

The stock has a market cap of $1.08 million, a P/E ratio of -0.06 and a beta of -0.03. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $1.13 and a 200 day simple moving average of $2.34.

Diffusion Pharmaceuticals (NASDAQ:DFFN) last released its earnings results on Monday, November 11th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. Equities analysts anticipate that Diffusion Pharmaceuticals Inc will post -2.89 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Diffusion Pharmaceuticals in the second quarter valued at about $48,000. Wells Fargo & Company MN acquired a new stake in Diffusion Pharmaceuticals during the second quarter worth about $427,000. Finally, Anson Funds Management LP acquired a new stake in Diffusion Pharmaceuticals during the second quarter worth about $933,000. 21.16% of the stock is 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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