DiaMedica Therapeutics (NASDAQ:DMAC) Posts Earnings Results, Beats Expectations By $0.02 EPS

DiaMedica Therapeutics (NASDAQ:DMAC) released its quarterly earnings data on Monday. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02, FiscalAI reports.

DiaMedica Therapeutics Stock Performance

Shares of DiaMedica Therapeutics stock traded down $0.15 during midday trading on Monday, reaching $6.64. 343,958 shares of the company’s stock traded hands, compared to its average volume of 218,931. The stock has a 50 day moving average of $7.90 and a 200-day moving average of $7.66. DiaMedica Therapeutics has a 12 month low of $3.19 and a 12 month high of $10.42. The company has a market cap of $345.79 million, a PE ratio of -9.35 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new position in DiaMedica Therapeutics in the 3rd quarter worth $8,157,000. Geode Capital Management LLC boosted its stake in shares of DiaMedica Therapeutics by 99.6% during the 2nd 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 in the last quarter. Royal Bank of Canada increased its position in shares of DiaMedica Therapeutics by 46,879.1% during the first quarter. Royal Bank of Canada now owns 155,031 shares of the company’s stock valued at $588,000 after buying an additional 154,701 shares during the period. State Street Corp increased its position in shares of DiaMedica Therapeutics by 31.7% during the fourth quarter. State Street Corp now owns 627,771 shares of the company’s stock valued at $4,997,000 after buying an additional 151,188 shares during the period. Finally, Osaic Holdings Inc. raised its stake in DiaMedica Therapeutics by 374.7% in the second quarter. Osaic Holdings Inc. now owns 144,290 shares of the company’s stock worth $563,000 after buying an additional 113,893 shares in the last quarter. 10.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on DMAC. Weiss Ratings reiterated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a report on Wednesday, January 21st. Lake Street Capital restated a “buy” rating on shares of DiaMedica Therapeutics in a research report on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.33.

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.