DiaMedica Therapeutics (NASDAQ:DMAC) Trading Up 12.8%
DiaMedica Therapeutics Inc (NASDAQ:DMAC) was up 12.8% during mid-day trading on Thursday . The stock traded as high as $2.75 and last traded at $2.55, approximately 208,400 shares were traded during mid-day trading. An increase of 181% from the average daily volume of 74,110 shares. The stock had previously closed at $2.26.
Several analysts have recently issued reports on DMAC shares. Craig Hallum upped their target price on shares of DiaMedica Therapeutics from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Dougherty & Co started coverage on shares of DiaMedica Therapeutics in a research note on Tuesday, April 30th. They issued a “buy” rating and a $8.00 target price for the company. ValuEngine upgraded shares of DiaMedica Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of DiaMedica Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $8.38.
The company’s 50-day moving average is $3.87 and its two-hundred day moving average is $3.59. The company has a current ratio of 12.96, a quick ratio of 10.49 and a debt-to-equity ratio of 0.01.
In related news, Director Richard D. Pilnik purchased 19,000 shares of DiaMedica Therapeutics stock in a transaction that occurred on Friday, May 31st. The stock was bought at an average price of $2.80 per share, for a total transaction of $53,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 24,000 shares of company stock valued at $67,640. 12.80% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the business. Worth Venture Partners LLC boosted its position in DiaMedica Therapeutics by 10.6% during the second quarter. Worth Venture Partners LLC now owns 132,514 shares of the company’s stock worth $657,000 after purchasing an additional 12,651 shares during the period. BlackRock Inc. boosted its position in DiaMedica Therapeutics by 159.7% during the second quarter. BlackRock Inc. now owns 27,075 shares of the company’s stock worth $134,000 after purchasing an additional 16,651 shares during the period. Vanguard Group Inc. bought a new position in DiaMedica Therapeutics during the second quarter worth about $170,000. Eidelman Virant Capital bought a new position in DiaMedica Therapeutics during the second quarter worth about $173,000. Finally, Granite Point Capital Management L.P. bought a new position in DiaMedica Therapeutics during the second quarter worth about $1,141,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.
DiaMedica Therapeutics Company Profile (NASDAQ:DMAC)
DiaMedica Therapeutics Inc, a clinical-stage biopharmaceutical company, engages in the development of treatments for neurological and kidney diseases. The company's lead product is DM199, a recombinant human tissue kallikrein-1 protein, which is in Phase II clinical trials for the treatment of acute ischemic stroke and kidney injury indications.
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