Insider Buying: DiaMedica Therapeutics, Inc. (NASDAQ:DMAC) Major Shareholder Buys $5,399,999.50 in Stock

DiaMedica Therapeutics, Inc. (NASDAQ:DMAC) major shareholder Jan Stahlberg bought 1,542,857 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of $3.50 per share, with a total value of $5,399,999.50. Following the acquisition, the insider directly owned 6,764,465 shares of the company’s stock, valued at approximately $23,675,627.50. This trade represents a 29.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

DiaMedica Therapeutics Trading Up 3.5%

Shares of NASDAQ:DMAC opened at $5.05 on Monday. DiaMedica Therapeutics, Inc. has a 12-month low of $3.19 and a 12-month high of $6.82. The company has a market capitalization of $216.54 million, a PE ratio of -7.89 and a beta of 1.17. The business has a 50 day moving average of $4.01 and a two-hundred day moving average of $4.65.

DiaMedica Therapeutics (NASDAQ:DMAC) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same period last year, the company earned ($0.14) earnings per share. Equities research analysts predict that DiaMedica Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Craig Hallum lifted their target price on DiaMedica Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, July 18th. HC Wainwright boosted their price target on DiaMedica Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, Lake Street Capital boosted their price target on DiaMedica Therapeutics from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, July 18th.

Institutional Investors Weigh In On DiaMedica Therapeutics

A number of institutional investors have recently added to or reduced their stakes in DMAC. Bank of Montreal Can acquired a new position in DiaMedica Therapeutics during the fourth quarter worth $84,000. Cornerstone Wealth Management LLC acquired a new position in DiaMedica Therapeutics during the first quarter worth $62,000. Raymond James Financial Inc. acquired a new position in DiaMedica Therapeutics during the fourth quarter worth $83,000. Millennium Management LLC raised its position in 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 acquiring an additional 51,139 shares during the period. Finally, Jane Street Group LLC acquired a new position in DiaMedica Therapeutics during the fourth quarter worth $229,000. Institutional investors and hedge funds own 10.12% of the company’s stock.

DiaMedica Therapeutics Company Profile

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.