DiaMedica Therapeutics (NASDAQ:DMAC) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of DiaMedica Therapeutics (NASDAQ:DMAC) from a hold rating to a sell rating in a research report released on Friday morning.

Other research analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of DiaMedica Therapeutics in a report on Friday, August 15th. Lake Street Capital lifted their target price on DiaMedica Therapeutics from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Craig Hallum lifted their target price on DiaMedica Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.33.

DiaMedica Therapeutics Stock Up 1.5%

DMAC stock opened at $6.94 on Friday. DiaMedica Therapeutics has a 52-week low of $3.19 and a 52-week high of $7.49. The stock’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $4.64. The stock has a market capitalization of $358.73 million, a price-to-earnings ratio of -10.06 and a beta of 1.40.

DiaMedica Therapeutics (NASDAQ:DMAC) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). As a group, analysts anticipate that DiaMedica Therapeutics will post -0.59 earnings per share for the current fiscal year.

Insider Activity at DiaMedica Therapeutics

In related news, major shareholder Jan Stahlberg acquired 1,542,857 shares of DiaMedica Therapeutics stock in a transaction on Wednesday, July 23rd. The shares were bought at an average price of $3.50 per share, for a total transaction of $5,399,999.50. Following the completion of the purchase, the insider directly owned 6,764,465 shares in the company, valued at $23,675,627.50. This trade represents a 29.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought a total of 2,542,857 shares of company stock worth $11,358,598 in the last 90 days. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DMAC. Northern Trust Corp lifted its stake in shares of DiaMedica Therapeutics by 49.8% during the fourth quarter. Northern Trust Corp now owns 180,192 shares of the company’s stock worth $978,000 after purchasing an additional 59,902 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of DiaMedica Therapeutics during the fourth quarter worth about $229,000. Millennium Management LLC lifted its stake in shares of DiaMedica Therapeutics by 151.8% during the fourth quarter. Millennium Management LLC now owns 84,829 shares of the company’s stock worth $461,000 after purchasing an additional 51,139 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of DiaMedica Therapeutics during the first quarter worth about $62,000. Finally, World Investment Advisors lifted its stake in shares of DiaMedica Therapeutics by 17.0% during the first quarter. World Investment Advisors now owns 25,650 shares of the company’s stock worth $97,000 after purchasing an additional 3,735 shares in the last quarter. Institutional investors and hedge funds own 10.12% of the company’s stock.

About DiaMedica Therapeutics

DiaMedica Therapeutics Inc, a clinical stage biopharmaceutical company, focuses on improving the lives of people suffering from serious diseases with a focus on acute ischemic stroke. Its lead candidate is DM199, a pharmaceutically active recombinant form of the human tissue kallikrein-1 protein, which is in Phase II/III trials for the treatment of acute ischemic stroke, as well as that is in Phase 2 to treat cardio-renal disease.