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

Key Points

• Wall Street Zen downgraded DiaMedica Therapeutics (NASDAQ:DMAC) from a "hold" rating to a "sell" rating, reflecting increased caution from investment analysts regarding the stock's performance.
• Despite the downgrade, some analysts maintain a positive outlook with price targets ranging from $11.00 to $14.00 and a consensus rating of "Buy."
• DiaMedica's stock recently experienced a 2.7% decline in value, trading at $5.71, with a market capitalization of approximately $295.15 million.

Wall Street Zen downgraded shares of DiaMedica Therapeutics (NASDAQ:DMAC - Free Report) from a hold rating to a sell rating in a research note released on Tuesday.

Several other equities analysts have also commented on the stock. Craig Hallum increased their price target on shares of DiaMedica Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Lake Street Capital raised their price objective 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 issued a $12.00 target price on shares of DiaMedica Therapeutics in a research note on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, DiaMedica Therapeutics has a consensus rating of "Buy" and a consensus target price of $12.33.

DiaMedica Therapeutics Stock Down 0.4%

Shares of DiaMedica Therapeutics stock traded down $0.02 on Tuesday, reaching $5.30. The company's stock had a trading volume of 231,570 shares, compared to its average volume of 303,588. DiaMedica Therapeutics has a 52-week low of $3.19 and a 52-week high of $6.82. The company has a market capitalization of $273.96 million, a P/E ratio of -7.68 and a beta of 1.40. The stock has a 50-day moving average price of $4.76 and a 200-day moving average price of $4.56.

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

Insider Activity

In other news, major shareholder Jan Stahlberg acquired 1,542,857 shares of DiaMedica Therapeutics stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $3.50 per share, with a total value of $5,399,999.50. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On DiaMedica Therapeutics

Several hedge funds have recently made changes to their positions in DMAC. Police & Firemen s Retirement System of New Jersey acquired a new position in DiaMedica Therapeutics during the 2nd quarter worth $29,000. Bank of America Corp DE lifted its position in DiaMedica Therapeutics by 3,710.3% during the second quarter. Bank of America Corp DE now owns 8,497 shares of the company's stock worth $33,000 after acquiring an additional 8,274 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of DiaMedica Therapeutics during the 2nd quarter worth approximately $49,000. Invesco Ltd. bought a new position in shares of DiaMedica Therapeutics in the 2nd quarter valued at $54,000. Finally, Intech Investment Management LLC acquired a new stake in shares of DiaMedica Therapeutics during the 2nd quarter valued at $56,000. Institutional investors 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.