Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Grows By 88.8%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a large growth in short interest in December. As of December 15th, there was short interest totaling 39,351 shares, a growth of 88.8% from the November 30th total of 20,846 shares. Currently, 4.7% of the shares of the stock are short sold. Based on an average trading volume of 338,017 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 338,017 shares, the short-interest ratio is currently 0.1 days. Currently, 4.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Dermata Therapeutics in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Dermata Therapeutics has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Dermata Therapeutics stock. Armistice Capital LLC lifted its holdings in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) by 1,411.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,000 shares of the company’s stock after purchasing an additional 383,800 shares during the period. Armistice Capital LLC owned 6.81% of Dermata Therapeutics worth $444,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Dermata Therapeutics Stock Down 21.5%

Shares of NASDAQ DRMA traded down $0.51 during trading on Friday, reaching $1.86. The company had a trading volume of 679,525 shares, compared to its average volume of 1,254,077. The stock has a market cap of $1.92 million, a P/E ratio of -0.24 and a beta of 0.53. The company’s fifty day moving average price is $2.99 and its 200-day moving average price is $4.92. Dermata Therapeutics has a 12 month low of $1.80 and a 12 month high of $23.70.

Dermata Therapeutics (NASDAQ:DRMA) last posted its quarterly earnings data on Friday, November 14th. The company reported ($1.65) EPS for the quarter, missing analysts’ consensus estimates of ($1.59) by ($0.06).

Dermata Therapeutics Company Profile

Dermata Therapeutics is a clinical-stage immunodermatology company dedicated to developing novel small-molecule therapies for inflammatory skin disorders. The company’s lead clinical candidate, DMVT-502, is being evaluated in atopic dermatitis, while DMVT-505 is in development for vitiligo. In addition to these programs, Dermata advances preclinical assets targeting other indications such as alopecia areata.

At the core of Dermata’s approach is a proprietary drug discovery platform that combines structure-based design, medicinal chemistry and innovative formulation techniques.