DiaMedica Therapeutics (NASDAQ:DMAC) Releases Quarterly Earnings Results, Meets Estimates

Key Points

• DiaMedica Therapeutics reported quarterly earnings per share of ($0.18), matching analyst expectations.
• Following the earnings announcement, DiaMedica's stock increased by 14.0%, trading at $5.22.
• Institutional investors have shown significant interest, with notable stake increases from firms such as Geode Capital Management and Royal Bank of Canada.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.18), Zacks reports.

DiaMedica Therapeutics Stock Up 0.3%

Shares of NASDAQ DMAC traded up $0.02 during mid-day trading on Friday, reaching $6.03. 125,551 shares of the company were exchanged, compared to its average volume of 452,095. The stock has a market cap of $311.69 million, a price-to-earnings ratio of -8.74 and a beta of 1.25. DiaMedica Therapeutics has a 1 year low of $3.19 and a 1 year high of $6.82. The firm has a 50-day moving average of $4.24 and a 200 day moving average of $4.57.

Insider Buying and Selling

In other DiaMedica Therapeutics news, major shareholder Jan Stahlberg purchased 1,542,857 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $3.50 per share, for a total transaction of $5,399,999.50. Following the completion of the purchase, the insider owned 6,764,465 shares in the company, valued at $23,675,627.50. This represents a 29.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On DiaMedica Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in DiaMedica Therapeutics by 99.6% in the second quarter. Geode Capital Management LLC now owns 630,148 shares of the company's stock valued at $2,458,000 after buying an additional 314,407 shares during the last quarter. Royal Bank of Canada raised its stake in DiaMedica Therapeutics by 46,879.1% in the first quarter. Royal Bank of Canada now owns 155,031 shares of the company's stock valued at $588,000 after buying an additional 154,701 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in DiaMedica Therapeutics by 76.7% in the first quarter. Goldman Sachs Group Inc. now owns 121,802 shares of the company's stock valued at $462,000 after buying an additional 52,854 shares during the last quarter. Jane Street Group LLC raised its stake in DiaMedica Therapeutics by 138.5% in the first quarter. Jane Street Group LLC now owns 100,669 shares of the company's stock valued at $382,000 after buying an additional 58,457 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in DiaMedica Therapeutics by 227.8% in the second quarter. Marshall Wace LLP now owns 61,719 shares of the company's stock valued at $241,000 after buying an additional 42,890 shares during the last quarter. 10.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DMAC shares. HC Wainwright restated a "buy" rating and set a $12.00 price objective on shares of DiaMedica Therapeutics in a research note on Friday. Lake Street Capital upped their price objective on DiaMedica Therapeutics from $11.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Craig Hallum upped their price objective on DiaMedica Therapeutics from $8.00 to $11.00 and gave the stock a "buy" rating in a research note on Friday, July 18th.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics Inc, a clinical stage biopharmaceutical company, focuses on improving the lives of people suffering from serious diseases with a focus on acute ischemic stroke. Its lead candidate is DM199, a pharmaceutically active recombinant form of the human tissue kallikrein-1 protein, which is in Phase II/III trials for the treatment of acute ischemic stroke, as well as that is in Phase 2 to treat cardio-renal disease.