DiaMedica Therapeutics (NASDAQ:DMAC) Reaches New 1-Year High – Here’s Why

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC)’s stock price hit a new 52-week high on Wednesday. The company traded as high as $10.66 and last traded at $10.7450, with a volume of 30,542 shares. The stock had previously closed at $10.00.

Analyst Upgrades and Downgrades

DMAC has been the subject of a number of recent analyst reports. Wall Street Zen raised DiaMedica Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of DiaMedica Therapeutics in a research note on Thursday, October 15th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of DiaMedica Therapeutics in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, DiaMedica Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $12.00.

DiaMedica Therapeutics Stock Up 6.8%

The stock has a market cap of $575.92 million, a P/E ratio of -14.88 and a beta of 0.95. The stock has a fifty day simple moving average of $7.73 and a 200-day simple moving average of $7.14.

DiaMedica Therapeutics (NASDAQ:DMAC) last posted its earnings results on Monday, August 10th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. Sell-side analysts anticipate that DiaMedica Therapeutics, Inc. will post -0.84 earnings per share for the current year.

Institutional Trading of DiaMedica Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DMAC. AWM Investment Company Inc. bought a new stake in DiaMedica Therapeutics in the 2nd quarter valued at approximately $253,000. Bank of America Corp DE lifted its holdings in DiaMedica Therapeutics by 62.5% during the 1st quarter. Bank of America Corp DE now owns 42,768 shares of the company’s stock valued at $290,000 after purchasing an additional 16,446 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of DiaMedica Therapeutics during the 1st quarter worth about $356,000. Sei Investments Co. boosted its holdings in shares of DiaMedica Therapeutics by 100.0% during the first quarter. Sei Investments Co. now owns 111,320 shares of the company’s stock worth $754,000 after acquiring an additional 55,660 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of DiaMedica Therapeutics during the second quarter worth $829,000. Institutional investors and hedge funds own 10.12% of the company’s stock.

DiaMedica Therapeutics Company Profile

DiaMedica Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases affecting the kidneys and nervous system. The company’s research is centered on therapies intended to address conditions with limited treatment options.

DiaMedica’s lead investigational product is DM199, a recombinant form of human tissue kallikrein-1, an enzyme involved in blood flow regulation and vascular function. The company has evaluated DM199 in clinical development programs targeting acute ischemic stroke and kidney-related diseases, including chronic kidney disease.