Drugs Made In America Acquisition (NASDAQ:DMAA) Shares Climb 0.1% - Time to Buy?

Key Points

• DMAA shares rose 0.1% to about $10.86, while trading volume fell 57% below its average daily level.
• Weiss Ratings reiterated a “Sell” rating, leaving the stock with an overall average analyst rating of “Sell.”
• Several institutional investors recently established or expanded positions, while DMAA remains a SPAC seeking a business combination in the pharmaceutical, biotechnology, medical device or health care sectors.

Drugs Made In America Acquisition Corp. (NASDAQ:DMAA - Get Free Report) shares were up 0.1% during trading on Thursday. The stock traded as high as $10.85 and last traded at $10.8550. Approximately 5,401 shares were traded 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 restated a "sell (d)" rating on shares of Drugs Made In America Acquisition in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of "Sell".

Drugs Made In America Acquisition Stock Up 0.1%

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

Drugs Made In America Acquisition (NASDAQ:DMAA - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.06 earnings per share for the quarter.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DMAA. Lineage Point Capital LP acquired a new position in shares of Drugs Made In America Acquisition in the fourth quarter worth $330,000. Sona Asset Management US LLC acquired a new stake in Drugs Made In America Acquisition during the first quarter valued at $1,706,000. L1 Global Manager Pty Ltd purchased a new position in Drugs Made In America Acquisition in the fourth quarter valued at about $2,075,000. Governors Lane LP increased its position in 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 purchasing an additional 238,800 shares during the last quarter. Finally, Clear Street Group Inc. increased its position in Drugs Made In America Acquisition by 55.5% in the 4th 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 during the last quarter.

About Drugs Made In America Acquisition

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.

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