DiaMedica Therapeutics (NASDAQ:DMAC) Downgraded by Wall Street Zen to Sell

Key Points

• DiaMedica Therapeutics has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, amidst varying opinions from other analysts who still maintain buy ratings with increased price targets.
• The company's shares traded at $6.94 with a market cap of $358.73 million and have seen significant insider buying, particularly a major shareholder purchasing 50,772 shares at $6.00 each.
• DiaMedica's lead candidate DM199 is currently in Phase II/III trials for treating acute ischemic stroke, highlighting its focus on improving the lives of patients with serious diseases.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Other analysts also recently issued reports about the stock. Craig Hallum lifted their price objective on shares of DiaMedica Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Lake Street Capital boosted their price target on shares of DiaMedica Therapeutics from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, HC Wainwright restated a "buy" rating and set a $12.00 price target on shares of DiaMedica Therapeutics in a research report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $12.33.

DiaMedica Therapeutics Price Performance

DMAC traded up $0.10 during trading hours on Friday, reaching $6.94. 122,817 shares of the stock traded hands, compared to its average volume of 519,973. The firm's fifty day simple moving average is $5.79 and its two-hundred day simple moving average is $4.64. The company has a market cap of $358.73 million, a price-to-earnings ratio of -10.06 and a beta of 1.40. DiaMedica Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $7.49.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). On average, research analysts predict that DiaMedica Therapeutics will post -0.59 earnings per share for the current year.

Insider Transactions at DiaMedica Therapeutics

In other DiaMedica Therapeutics news, major shareholder Jan Stahlberg bought 50,772 shares of DiaMedica Therapeutics stock in a transaction on Wednesday, August 27th. The stock was purchased at an average cost of $6.00 per share, for a total transaction of $304,632.00. Following the completion of the purchase, the insider directly owned 7,764,465 shares of the company's stock, valued at $46,586,790. The trade was a 0.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 2,542,857 shares of company stock valued at $11,358,598 in the last ninety days. 7.30% of the stock is owned by insiders.

Institutional Trading of DiaMedica Therapeutics

A number of institutional investors have recently added to or reduced their stakes in DMAC. Police & Firemen s Retirement System of New Jersey acquired a new stake in DiaMedica Therapeutics in the second quarter valued at approximately $29,000. Bank of America Corp DE lifted its stake in shares of DiaMedica Therapeutics by 3,710.3% in the second quarter. Bank of America Corp DE now owns 8,497 shares of the company's stock worth $33,000 after buying an additional 8,274 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of DiaMedica Therapeutics in the second quarter worth $49,000. Invesco Ltd. acquired a new stake in shares of DiaMedica Therapeutics in the second quarter worth $54,000. Finally, Intech Investment Management LLC acquired a new stake in shares of DiaMedica Therapeutics in the second quarter worth $56,000. 10.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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