DiaMedica Therapeutics, Inc. (NASDAQ:DMAC) Major Shareholder Acquires $5,399,999.50 in Stock

Key Points

• Jan Stahlberg, a major shareholder of DiaMedica Therapeutics, purchased 1,542,857 shares at an average price of $3.50 each, increasing his total ownership to 6,764,465 shares, valued at approximately $23.68 million.
• The company's stock recently traded at $5.05, reflecting a significant trading volume with shares exchanged exceeding 301,000.
• Analysts have raised their price targets for DiaMedica Therapeutics, with estimates now ranging from $11.00 to $14.00 per share, indicating a bullish outlook on the company's performance.

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC - Get Free Report) major shareholder Jan Stahlberg bought 1,542,857 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was bought at an average price of $3.50 per share, for a total transaction of $5,399,999.50. Following the purchase, the insider directly owned 6,764,465 shares of the company's stock, valued at $23,675,627.50. The trade was a 29.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

DiaMedica Therapeutics Price Performance

NASDAQ DMAC traded down $0.47 during trading on Tuesday, hitting $4.59. The company's stock had a trading volume of 718,877 shares, compared to its average volume of 357,376. The company has a market cap of $196.82 million, a PE ratio of -7.17 and a beta of 1.17. The business's 50 day simple moving average is $4.03 and its 200-day simple moving average is $4.65. DiaMedica Therapeutics, Inc. has a fifty-two week low of $3.19 and a fifty-two week high of $6.82.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). During the same period last year, the company posted ($0.14) earnings per share. Analysts expect that DiaMedica Therapeutics, Inc. will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On DiaMedica Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of DiaMedica Therapeutics by 14.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 19,339 shares of the company's stock worth $105,000 after purchasing an additional 2,380 shares during the period. World Investment Advisors lifted its holdings in shares of DiaMedica Therapeutics by 17.0% during the first 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 period. LPL Financial LLC lifted its holdings in shares of DiaMedica Therapeutics by 8.2% during the fourth quarter. LPL Financial LLC now owns 152,000 shares of the company's stock worth $825,000 after purchasing an additional 11,500 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of DiaMedica Therapeutics during the fourth quarter worth about $79,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of DiaMedica Therapeutics during the fourth quarter worth about $83,000. Institutional investors and hedge funds own 10.12% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HC Wainwright lifted their target price on DiaMedica Therapeutics from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Lake Street Capital lifted their target price on DiaMedica Therapeutics from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Craig Hallum raised their price target on DiaMedica Therapeutics from $8.00 to $11.00 and gave the stock a "buy" rating in a report 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.