DiaMedica Therapeutics (NASDAQ:DMAC) Shares Climb 13.9% - What's Next?

Key Points

• DiaMedica Therapeutics shares jumped 13.9% to $9.90, with trading volume 59% above the average session level.
• Analyst sentiment is generally positive: four analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and a $12 price target.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $0.19 per share, narrowly beating expectations, while institutional investors own 10.12% of its shares.

Shares of DiaMedica Therapeutics, Inc. (NASDAQ:DMAC - Get Free Report) shot up 13.9% on Wednesday. The company traded as high as $10.09 and last traded at $9.90. Approximately 317,795 shares changed hands during trading, an increase of 59% from the average session volume of 199,410 shares. The stock had previously closed at $8.69.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DMAC shares. Wall Street Zen upgraded DiaMedica Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reissued a "sell (d-)" rating on shares of DiaMedica Therapeutics in a research report on Thursday, October 15th. Finally, HC Wainwright restated a "buy" rating and set a $12.00 price objective on shares of DiaMedica Therapeutics in a research note on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, DiaMedica Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

DiaMedica Therapeutics Trading Up 13.1%

The company's 50-day moving average is $7.44 and its two-hundred day moving average is $7.11. The stock has a market capitalization of $530.13 million, a P/E ratio of -13.56 and a beta of 0.92.

DiaMedica Therapeutics (NASDAQ:DMAC - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. Sell-side analysts expect that DiaMedica Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Institutional Trading of DiaMedica Therapeutics

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in DiaMedica Therapeutics during the 2nd quarter worth $829,000. Squarepoint Ops LLC acquired a new position in shares of DiaMedica Therapeutics during the second quarter valued at $1,023,000. Bank of America Corp DE increased its holdings in shares of DiaMedica Therapeutics by 62.5% during the first quarter. Bank of America Corp DE now owns 42,768 shares of the company's stock valued at $290,000 after purchasing an additional 16,446 shares during the period. AWM Investment Company Inc. bought a new stake in shares of DiaMedica Therapeutics during the second quarter valued at about $253,000. Finally, Renaissance Technologies LLC bought a new stake in shares of DiaMedica Therapeutics during the first quarter valued at about $356,000. 10.12% of the stock is currently owned by institutional investors and hedge funds.

About DiaMedica Therapeutics

DiaMedica Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases affecting the kidneys and nervous system. The company's research is centered on therapies intended to address conditions with limited treatment options.

DiaMedica's lead investigational product is DM199, a recombinant form of human tissue kallikrein-1, an enzyme involved in blood flow regulation and vascular function. The company has evaluated DM199 in clinical development programs targeting acute ischemic stroke and kidney-related diseases, including chronic kidney disease.

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