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

DiaMedica Therapeutics Inc. (NASDAQ:DMAC) experienced a notable rise in short interest during February 2023. As of February 15th, the company reported a total short interest of 232,300 shares, marking a 21.1% increase from the previous total of 191,900 shares recorded on January 31st. Given the average trading volume of 113,800 shares, the current days-to-cover ratio stands at 2.0 days.

DiaMedica Therapeutics Stock Performance

On Thursday, DMAC stock fell by 2.1%, losing $0.13 to reach a price of $5.95. The trading volume for the day was 39,720 shares, significantly lower than its average volume of 68,370 shares. The stock's 50-day moving average price is $5.91, while its 200-day moving average stands at $4.98. Currently, the company holds a market capitalization of $254.43 million with a price-to-earnings ratio of -10.62 and a beta of 1.52. Over the past year, DiaMedica Therapeutics saw a low of $2.14 and a high of $6.82.

Institutional Investors' Involvement

Recent activity from institutional investors and hedge funds indicates a shift in their positions regarding DiaMedica Therapeutics. Dimensional Fund Advisors LP increased its stake in the company by 14.0% in the fourth quarter, owning now 19,339 shares valued at approximately $105,000 after acquiring an additional 2,380 shares. Point72 Asia Singapore Pte. Ltd. also entered the scene by purchasing a new stake worth about $40,000 during the third quarter. Furthermore, LPL Financial LLC raised its position in DiaMedica by 8.2% in the fourth quarter, holding 152,000 shares valued at about $825,000 following the acquisition of 11,500 additional shares. Other institutional players like Balyasny Asset Management L.P. and Y Intercept Hong Kong Ltd. also added to their holdings, with total institutional ownership accounting for 10.12% of the company's stock.

Analyst Ratings for DiaMedica Therapeutics

In a recent report, HC Wainwright maintained a "buy" rating on DiaMedica Therapeutics, setting a target price of $7.00 for its shares.

Company Overview

DiaMedica Therapeutics Inc. is a clinical-stage biopharmaceutical company dedicated to enhancing the quality of life for individuals suffering from severe health conditions, focusing primarily on acute ischemic stroke. The company's leading product, DM199, is a recombinant form of the human tissue kallikrein-1 protein, currently undergoing Phase II/III trials for treating acute ischemic stroke and Phase 2 for addressing cardio-renal disease.

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