Drugs Made In America Acquisition (NASDAQ:DMAA) Shares Climb 0.1% – Here’s What Happened

Shares of Drugs Made In America Acquisition Corp. (NASDAQ:DMAA) were up 0.1% during trading on Thursday. The stock traded as high as $10.85 and last traded at $10.8550. 5,401 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 12,592 shares. The stock had previously closed at $10.84.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Drugs Made In America Acquisition in a research report on Wednesday, August 26th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Drugs Made In America Acquisition Stock Performance

The company has a 50 day simple moving average of $10.79 and a 200 day simple moving average of $10.66.

Drugs Made In America Acquisition (NASDAQ:DMAA) last released its earnings results on Friday, August 14th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Drugs Made In America Acquisition

Institutional investors have recently bought and sold shares of the company. Governors Lane LP lifted its stake in shares of Drugs Made In America Acquisition by 2,132.1% in the 4th quarter. Governors Lane LP now owns 250,000 shares of the company’s stock worth $2,594,000 after acquiring an additional 238,800 shares during the period. L1 Global Manager Pty Ltd purchased a new stake in shares of Drugs Made In America Acquisition in the fourth quarter valued at about $2,075,000. Sona Asset Management US LLC acquired a new position in shares of Drugs Made In America Acquisition during the first quarter worth about $1,706,000. Clear Street Group Inc. raised its holdings in Drugs Made In America Acquisition by 55.5% during the fourth quarter. Clear Street Group Inc. now owns 325,973 shares of the company’s stock worth $3,382,000 after purchasing an additional 116,407 shares in the last quarter. Finally, Lineage Point Capital LP purchased a new position in Drugs Made In America Acquisition during the fourth quarter worth about $330,000.

Drugs Made In America Acquisition Company Profile

Drugs Made In America Acquisition Corp. (NASDAQ: DMAA) is a special purpose acquisition company, or SPAC. Rather than operating a traditional pharmaceutical business, the company was established to identify and complete a business combination with an operating company.

Its stated focus is on opportunities in the pharmaceutical, biotechnology, medical device and broader health care sectors. The company does not appear to have marketed pharmaceutical products, medical devices or other commercial services of its own while operating as a SPAC.

Drugs Made In America Acquisition Corp.