DiaMedica Therapeutics Inc (NASDAQ:DMAC) Sees Significant Decline in Short Interest

DiaMedica Therapeutics Inc (NASDAQ:DMAC) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 4,300 shares, a drop of 61.6% from the August 30th total of 11,200 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 50,400 shares, the days-to-cover ratio is currently 0.1 days.

DMAC stock traded up $0.04 during midday trading on Friday, hitting $1.84. 23,115 shares of the stock traded hands, compared to its average volume of 42,742. The company has a quick ratio of 12.96, a current ratio of 12.96 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $2.54 and its 200-day simple moving average is $3.32. DiaMedica Therapeutics has a 1-year low of $1.70 and a 1-year high of $5.93.

DiaMedica Therapeutics (NASDAQ:DMAC) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.07. On average, research analysts forecast that DiaMedica Therapeutics will post -0.91 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Granite Point Capital Management L.P. purchased a new position in DiaMedica Therapeutics during the second quarter valued at $1,141,000. Worth Venture Partners LLC lifted its holdings in DiaMedica Therapeutics by 10.6% during the second quarter. Worth Venture Partners LLC now owns 132,514 shares of the company’s stock valued at $657,000 after purchasing an additional 12,651 shares in the last quarter. Eidelman Virant Capital purchased a new position in DiaMedica Therapeutics during the second quarter valued at $173,000. Vanguard Group Inc. purchased a new position in DiaMedica Therapeutics during the second quarter valued at $170,000. Finally, BlackRock Inc. lifted its holdings in DiaMedica Therapeutics by 159.7% during the second quarter. BlackRock Inc. now owns 27,075 shares of the company’s stock valued at $134,000 after purchasing an additional 16,651 shares in the last quarter. 10.70% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on DMAC shares. Craig Hallum raised their price target on shares of DiaMedica Therapeutics from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. ValuEngine upgraded shares of DiaMedica Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of DiaMedica Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $8.38.

DiaMedica Therapeutics Company Profile

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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