DiaMedica Therapeutics (NASDAQ:DMAC) Shares Down 2.3% – Time to Sell?

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC)’s share price dropped 2.3% during trading on Friday . The stock traded as low as $8.13 and last traded at $8.16. Approximately 135,966 shares traded hands during trading, a decline of 60% from the average daily volume of 336,492 shares. The stock had previously closed at $8.35.

Analysts Set New Price Targets

DMAC has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research note on Wednesday, October 8th. Cowen assumed coverage on DiaMedica Therapeutics in a report on Thursday, October 30th. They issued a “buy” rating for the company. Wall Street Zen downgraded DiaMedica Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Cantor Fitzgerald initiated coverage on shares of DiaMedica Therapeutics in a research report on Friday, November 14th. They issued an “overweight” rating on the stock. Finally, TD Cowen started coverage on shares of DiaMedica Therapeutics in a report on Thursday, October 30th. They set a “buy” rating for the company. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.33.

DiaMedica Therapeutics Stock Performance

The company has a market capitalization of $424.97 million, a P/E ratio of -11.49 and a beta of 1.15. The company has a 50-day simple moving average of $7.94 and a 200 day simple moving average of $6.46.

DiaMedica Therapeutics (NASDAQ:DMAC) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). As a group, sell-side analysts forecast that DiaMedica Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Insider Transactions at DiaMedica Therapeutics

In related news, major shareholder Jan Stahlberg purchased 73,099 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $8.57 per share, for a total transaction of $626,458.43. Following the transaction, the insider directly owned 8,825,742 shares of the company’s stock, valued at approximately $75,636,608.94. This trade represents a 0.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 1,061,277 shares of company stock valued at $7,632,627. Company insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On DiaMedica Therapeutics

Several hedge funds have recently made changes to their positions in DMAC. Goldman Sachs Group Inc. grew its position in DiaMedica Therapeutics by 76.7% during the first quarter. Goldman Sachs Group Inc. now owns 121,802 shares of the company’s stock worth $462,000 after buying an additional 52,854 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of DiaMedica Therapeutics in the 2nd quarter worth approximately $207,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of DiaMedica Therapeutics during the 2nd quarter worth approximately $29,000. World Investment Advisors increased its position in shares of DiaMedica Therapeutics by 24.7% during the second quarter. World Investment Advisors now owns 31,975 shares of the company’s stock valued at $125,000 after purchasing an additional 6,325 shares during the period. Finally, Cooperman Leon G increased its position in shares of DiaMedica Therapeutics by 98.2% during the third quarter. Cooperman Leon G now owns 3,269,761 shares of the company’s stock valued at $22,463,000 after purchasing an additional 1,619,761 shares during the period. Institutional investors own 10.12% of the company’s stock.

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.