DiaMedica Therapeutics’ (NASDAQ:DMAC) lock-up period will end on Wednesday, June 5th. DiaMedica Therapeutics had issued 4,100,000 shares in its initial public offering on December 7th. The total size of the offering was $16,400,000 based on an initial share price of $4.00. After the expiration of DiaMedica Therapeutics’ lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
DMAC has been the topic of a number of research analyst reports. Lake Street Capital initiated coverage on shares of DiaMedica Therapeutics in a research note on Tuesday, March 5th. They issued a “buy” rating and a $9.00 price target on the stock. Dougherty & Co initiated coverage on shares of DiaMedica Therapeutics in a research note on Tuesday, April 30th. They issued a “buy” rating and a $8.00 price target on the stock.
DiaMedica Therapeutics stock opened at $2.77 on Tuesday. DiaMedica Therapeutics has a 1 year low of $2.46 and a 1 year high of $4.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.49 and a quick ratio of 10.49.
DiaMedica Therapeutics (NASDAQ:DMAC) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). On average, analysts predict that DiaMedica Therapeutics will post -0.85 earnings per share for the current fiscal year.
In related news, Director Richard D. Pilnik purchased 19,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $2.80 per share, with a total value of $53,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased a total of 23,150 shares of company stock worth $65,629 in the last three months. 12.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in DiaMedica Therapeutics in the 1st quarter valued at $47,000. Worth Venture Partners LLC acquired a new stake in DiaMedica Therapeutics in the 4th quarter valued at $377,000. Finally, Wexford Capital LP acquired a new stake in DiaMedica Therapeutics in the 4th quarter valued at $1,382,000. 8.48% of the stock is currently owned by hedge funds and other institutional investors.
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About DiaMedica Therapeutics
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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