Insider Buying: DiaMedica Therapeutics, Inc. (NASDAQ:DMAC) Major Shareholder Buys 1,542,857 Shares of 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 purchased 1,542,857 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average price of $3.50 per share, with a total value of $5,399,999.50. Following the completion of the transaction, the insider owned 6,764,465 shares of the company's stock, valued at $23,675,627.50. This represents a 29.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

DiaMedica Therapeutics Stock Performance

Shares of NASDAQ DMAC traded up $0.17 during midday trading on Friday, reaching $5.05. 301,626 shares of the company were exchanged, compared to its average volume of 479,660. The stock's 50-day moving average price is $3.99 and its 200-day moving average price is $4.67. DiaMedica Therapeutics, Inc. has a one year low of $3.19 and a one year high of $6.82.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last issued its quarterly earnings data 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 quarter in the prior year, the firm posted ($0.14) earnings per share. On average, equities analysts expect that DiaMedica Therapeutics, Inc. will post -0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DMAC shares. Craig Hallum lifted their price target 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 objective on shares of DiaMedica Therapeutics from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, HC Wainwright boosted their price objective on shares of DiaMedica Therapeutics from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, July 18th.

Hedge Funds Weigh In On DiaMedica Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in shares of DiaMedica Therapeutics in the fourth quarter worth approximately $84,000. Cornerstone Wealth Management LLC bought a new stake in shares of DiaMedica Therapeutics in the 1st quarter worth $62,000. Raymond James Financial Inc. purchased a new stake in shares of DiaMedica Therapeutics in the fourth quarter valued at about $83,000. Millennium Management LLC raised its holdings in shares of DiaMedica Therapeutics by 151.8% in the fourth quarter. Millennium Management LLC now owns 84,829 shares of the company's stock valued at $461,000 after purchasing an additional 51,139 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in DiaMedica Therapeutics in the 4th quarter valued at about $229,000. Institutional investors and hedge funds own 10.12% of the company's stock.

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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