Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Update

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a large decline in short interest in February. As of February 13th, there was short interest totaling 32,216 shares, a decline of 92.1% from the January 29th total of 409,394 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 276,133 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 276,133 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen raised shares of Dermata Therapeutics to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. bought a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned about 0.60% of Dermata Therapeutics at the end of the most recent reporting period. 8.67% of the stock is currently owned by institutional investors.

Dermata Therapeutics Price Performance

NASDAQ DRMA traded up $0.01 on Wednesday, reaching $1.22. The company had a trading volume of 187,270 shares, compared to its average volume of 2,137,615. The firm has a market cap of $3.46 million, a price-to-earnings ratio of -0.16 and a beta of 0.55. Dermata Therapeutics has a fifty-two week low of $1.16 and a fifty-two week high of $23.70. The business has a 50 day moving average of $2.02 and a two-hundred day moving average of $3.50.

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.