DiaMedica Therapeutics (NASDAQ:DMAC) Trading Down 3.1% - What's Next?

Key Points

• DiaMedica Therapeutics (NASDAQ:DMAC) experienced a 3.1% decline in stock price, closing at $4.67 after trading as low as $4.41.
• Recent brokerage reports have given the company multiple "buy" ratings with price objectives raised from $8.00 to $14.00, indicating positive investor sentiment despite the current stock performance.
• Major shareholder Jan Stahlberg significantly increased their stake by 29.55%, purchasing over 1.5 million shares at an average price of $3.50 each, reflecting confidence in the company's future.

Shares of DiaMedica Therapeutics, Inc. (NASDAQ:DMAC - Get Free Report) fell 3.1% during trading on Friday . The stock traded as low as $4.41 and last traded at $4.67. 390,287 shares were traded during mid-day trading, a decline of 11% from the average session volume of 436,340 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

Several research firms have commented on DMAC. 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 note on Friday, July 18th. 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 report on Friday, July 18th. Finally, HC Wainwright upped their price objective on DiaMedica Therapeutics from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, July 18th.

DiaMedica Therapeutics Stock Up 15.6%

The firm has a fifty day moving average of $4.12 and a 200 day moving average of $4.57. The stock has a market cap of $311.94 million, a PE ratio of -9.58 and a beta of 1.25.

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

Insider Activity at DiaMedica Therapeutics

In other DiaMedica Therapeutics news, major shareholder Jan Stahlberg acquired 1,542,857 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average cost of $3.50 per share, for a total transaction of $5,399,999.50. Following the transaction, the insider directly owned 6,764,465 shares of the company's stock, valued at approximately $23,675,627.50. This represents a 29.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DiaMedica Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in DiaMedica Therapeutics by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 19,339 shares of the company's stock valued at $105,000 after purchasing an additional 2,380 shares during the period. World Investment Advisors increased its position in shares of DiaMedica Therapeutics by 17.0% in the 1st quarter. World Investment Advisors now owns 25,650 shares of the company's stock worth $97,000 after purchasing an additional 3,735 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of DiaMedica Therapeutics in the 2nd quarter worth about $29,000. LPL Financial LLC lifted its position in shares of DiaMedica Therapeutics by 8.2% in the 4th quarter. LPL Financial LLC now owns 152,000 shares of the company's stock worth $825,000 after buying an additional 11,500 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of DiaMedica Therapeutics in the 2nd quarter worth about $49,000. 10.12% of the stock is currently owned by hedge funds and other institutional investors.

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.