DiaMedica Therapeutics (NASDAQ:DMAC) Stock Price Down 2.3% – Should You Sell?

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC) traded down 2.3% during mid-day trading on Friday . The stock traded as low as $8.13 and last traded at $8.16. 135,966 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 336,492 shares. The stock had previously closed at $8.35.

Analyst Upgrades and Downgrades

DMAC has been the topic of a number of recent research reports. TD Cowen started coverage on DiaMedica Therapeutics in a report on Thursday, October 30th. They issued a “buy” rating on the stock. Lake Street Capital reiterated a “buy” rating on shares of DiaMedica Therapeutics in a research report on Monday. Cantor Fitzgerald began coverage on DiaMedica Therapeutics in a research note on Friday, November 14th. They issued an “overweight” rating on the stock. Wall Street Zen downgraded DiaMedica Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Cowen initiated coverage on shares of DiaMedica Therapeutics in a report on Thursday, October 30th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DiaMedica Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $12.33.

DiaMedica Therapeutics Price Performance

The firm has a market cap of $424.97 million, a PE ratio of -11.49 and a beta of 1.15. The business has a fifty day moving average price of $7.94 and a two-hundred day moving average price 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 EPS for the current fiscal year.

Insider Activity at DiaMedica Therapeutics

In related news, major shareholder Jan Stahlberg acquired 73,099 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average cost of $8.57 per share, with a total value of $626,458.43. Following the completion of the transaction, the insider 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 1,061,277 shares of company stock worth $7,632,627 in the last ninety days. Company insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On DiaMedica Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in DiaMedica Therapeutics in the third quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of DiaMedica Therapeutics during the 2nd quarter worth $29,000. Bank of America Corp DE raised its holdings in shares of DiaMedica Therapeutics by 3,710.3% during the 2nd quarter. Bank of America Corp DE now owns 8,497 shares of the company’s stock valued at $33,000 after purchasing an additional 8,274 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of DiaMedica Therapeutics in the 2nd quarter valued at $49,000. Finally, Invesco Ltd. acquired a new stake in shares of DiaMedica Therapeutics in the 2nd quarter valued at $54,000. Institutional investors and hedge funds 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.