DiaMedica Therapeutics (NASDAQ:DMAC) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

DiaMedica Therapeutics (NASDAQ:DMAC) announced its earnings results on Monday. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01, FiscalAI reports.

DiaMedica Therapeutics Stock Performance

Shares of NASDAQ:DMAC opened at $6.65 on Tuesday. DiaMedica Therapeutics has a 52-week low of $4.39 and a 52-week high of $10.42. The company has a market capitalization of $358.30 million, a P/E ratio of -9.37 and a beta of 1.01. The company has a 50-day simple moving average of $6.61 and a 200 day simple moving average of $6.95.

Institutional Trading of DiaMedica Therapeutics

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC acquired a new position in shares of DiaMedica Therapeutics during the 3rd quarter worth approximately $8,157,000. Geode Capital Management LLC increased its holdings in shares of DiaMedica Therapeutics by 99.6% in the second quarter. Geode Capital Management LLC now owns 630,148 shares of the company’s stock valued at $2,458,000 after purchasing an additional 314,407 shares during the last quarter. Royal Bank of Canada raised its position in shares of DiaMedica Therapeutics by 46,879.1% in the first quarter. Royal Bank of Canada now owns 155,031 shares of the company’s stock valued at $588,000 after purchasing an additional 154,701 shares during the period. State Street Corp boosted its holdings in shares of 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 buying an additional 151,188 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of 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 buying an additional 113,893 shares during the period. 10.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen raised DiaMedica Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

About DiaMedica Therapeutics

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.