DiaMedica Therapeutics (NASDAQ:DMAC) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

DiaMedica Therapeutics (NASDAQ:DMAC) announced its quarterly earnings results on Wednesday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02), FiscalAI reports.

DiaMedica Therapeutics Stock Performance

NASDAQ DMAC traded down $0.22 on Friday, reaching $6.32. The company’s stock had a trading volume of 49,921 shares, compared to its average volume of 206,162. The stock has a market cap of $340.27 million, a PE ratio of -9.04 and a beta of 0.99. DiaMedica Therapeutics has a twelve month low of $3.47 and a twelve month high of $10.42. The firm’s 50 day moving average is $6.88 and its two-hundred day moving average is $7.56.

Hedge Funds Weigh In On DiaMedica Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in DMAC. Millennium Management LLC purchased a new position in shares of DiaMedica Therapeutics during the 3rd quarter valued at $8,157,000. Geode Capital Management LLC lifted its position in DiaMedica Therapeutics by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 764,255 shares of the company’s stock worth $6,085,000 after acquiring an additional 52,437 shares during the last quarter. State Street Corp lifted its position in DiaMedica Therapeutics by 31.7% during the 4th quarter. State Street Corp now owns 627,771 shares of the company’s stock worth $4,997,000 after acquiring an additional 151,188 shares during the last quarter. Royal Bank of Canada lifted its position in DiaMedica Therapeutics by 46,879.1% during the 1st quarter. Royal Bank of Canada now owns 155,031 shares of the company’s stock worth $588,000 after acquiring an additional 154,701 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in DiaMedica Therapeutics by 374.7% during the 2nd quarter. Osaic Holdings Inc. now owns 144,290 shares of the company’s stock worth $563,000 after acquiring an additional 113,893 shares during the last quarter. 10.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research note on Monday, April 20th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, DiaMedica Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics, Inc (NASDAQ: DMAC) is a clinical‐stage biopharmaceutical company focused on developing novel therapies for acute and chronic central nervous system conditions. The company’s lead product candidate, DM199, is a recombinant form of human tissue kallikrein-1 designed to promote neuroprotection and tissue repair through modulation of the kallikrein‐kinin system. DiaMedica’s research and development efforts are centered on translating the regenerative potential of DM199 into effective treatments for disorders with high unmet medical need.

DM199 is being evaluated in acute ischemic stroke, where preclinical studies have demonstrated potential benefits in blood flow restoration, inflammation reduction and neuronal survival.