DiaMedica Therapeutics (NASDAQ:DMAC) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

DiaMedica Therapeutics Price Performance

DMAC stock opened at $6.64 on Tuesday. DiaMedica Therapeutics has a fifty-two week low of $3.19 and a fifty-two week high of $10.42. The stock has a market capitalization of $345.81 million, a price-to-earnings ratio of -9.35 and a beta of 1.09. The business’s fifty day moving average price is $7.88 and its two-hundred day moving average price is $7.65.

Hedge Funds Weigh In On DiaMedica Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DMAC. Millennium Management LLC bought a new position in DiaMedica Therapeutics during the third quarter worth about $8,157,000. Geode Capital Management LLC boosted its holdings in DiaMedica Therapeutics by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 764,255 shares of the company’s stock valued at $6,085,000 after purchasing an additional 52,437 shares during the period. State Street Corp grew its position 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 purchasing an additional 151,188 shares in the last quarter. Royal Bank of Canada grew its position in shares of 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 purchasing an additional 154,701 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of DiaMedica Therapeutics by 374.7% during the second quarter. Osaic Holdings Inc. now owns 144,290 shares of the company’s stock worth $563,000 after purchasing an additional 113,893 shares during the period. 10.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DMAC has been the topic of a number of research reports. Lake Street Capital reiterated a “buy” rating on shares of DiaMedica Therapeutics in a research note on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.