Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Declines By 50.7%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 64,856 shares, a drop of 50.7% from the June 30th total of 131,494 shares. Based on an average daily volume of 88,114 shares, the short-interest ratio is currently 0.7 days. Approximately 2.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned 0.60% of Dermata Therapeutics as of its most recent SEC filing. 8.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Dermata Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Dermata Therapeutics Price Performance

DRMA stock traded down $0.06 during midday trading on Wednesday, reaching $1.17. 80,619 shares of the company’s stock traded hands, compared to its average volume of 933,191. The company has a market capitalization of $4.71 million, a P/E ratio of -0.22 and a beta of 0.67. The business has a 50-day moving average price of $1.28 and a two-hundred day moving average price of $1.43. Dermata Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $7.14.

Dermata Therapeutics (NASDAQ:DRMA) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.05.

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.