Dominari (NASDAQ:DOMH) Stock Price Up 3.1% - Here's Why

Key Points

• Dominari Holdings Inc. stock price increased by 3.1%, reaching $5.60 after trading as high as $5.68, with a significant rise in trading volume.
• Wall Street analysts have downgraded Dominari from a "hold" to a "sell" rating as of May 22nd.
• Dominari focuses on developing small-molecule anticancer therapeutics, with ongoing projects targeting various types of cancer, including prostate and pancreatic cancer.

Dominari Holdings Inc. (NASDAQ:DOMH - Get Free Report) was up 3.1% on Wednesday . The company traded as high as $5.68 and last traded at $5.60. Approximately 334,154 shares changed hands during trading, an increase of 33% from the average daily volume of 252,188 shares. The stock had previously closed at $5.43.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Dominari from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Dominari Stock Down 3.1%

The company's fifty day moving average price is $5.23 and its two-hundred day moving average price is $5.28. The company has a market cap of $81.27 million, a price-to-earnings ratio of -1.23 and a beta of 0.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DOMH. Renaissance Technologies LLC increased its holdings in shares of Dominari by 20.0% in the 4th quarter. Renaissance Technologies LLC now owns 56,326 shares of the company's stock worth $55,000 after buying an additional 9,400 shares during the last quarter. PFG Investments LLC bought a new position in shares of Dominari in the 1st quarter worth $566,000. Geode Capital Management LLC lifted its position in Dominari by 2.9% during the second quarter. Geode Capital Management LLC now owns 66,283 shares of the company's stock valued at $361,000 after acquiring an additional 1,866 shares during the last quarter. Finally, Magnus Financial Group LLC purchased a new stake in Dominari during the second quarter valued at approximately $136,000. 42.48% of the stock is owned by hedge funds and other institutional investors.

Dominari Company Profile

Dominari Holdings Inc, a biotechnology company, focuses on developing small-molecule anticancer therapeutics. The company's pipeline of therapeutics includes therapies for prostate cancer, pancreatic cancer, acute myeloid leukemia (AML), and acute lymphoblastic leukemia. It is developing DHA-dFdC, a pancreatic drug candidate; and KPC34, a small molecule treatment for acute myeloid leukemia and acute lymphoblastic leukemia.