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

DiaMedica Therapeutics (NASDAQ:DMAC) announced its earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02, FiscalAI reports.

DiaMedica Therapeutics Trading Down 2.2%

Shares of DMAC traded down $0.15 during mid-day trading on Monday, reaching $6.64. The company’s stock had a trading volume of 343,958 shares, compared to its average volume of 218,931. DiaMedica Therapeutics has a 52 week low of $3.19 and a 52 week high of $10.42. The stock has a market cap of $345.79 million, a PE ratio of -9.35 and a beta of 1.09. The company’s fifty day moving average price is $7.90 and its two-hundred day moving average price is $7.66.

Institutional Trading of DiaMedica Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake 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 last quarter. Goldman Sachs Group Inc. lifted its stake in shares of DiaMedica Therapeutics by 76.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 121,802 shares of the company’s stock valued at $462,000 after acquiring an additional 52,854 shares during the last quarter. Jane Street Group LLC boosted its holdings in DiaMedica Therapeutics by 138.5% during the 1st quarter. Jane Street Group LLC now owns 100,669 shares of the company’s stock valued at $382,000 after acquiring an additional 58,457 shares during the period. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 314,407 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in DiaMedica Therapeutics during the 2nd quarter worth approximately $49,000. 10.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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