Dermata Therapeutics (NASDAQ:DRMA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Dermata Therapeutics (NASDAQ:DRMA) from a sell rating to a hold rating in a report released on Saturday.

Separately, Weiss Ratings restated 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.00.

Dermata Therapeutics Trading Down 3.4%

Shares of Dermata Therapeutics stock opened at $1.14 on Friday. Dermata Therapeutics has a 12 month low of $1.10 and a 12 month high of $11.90. The firm has a market capitalization of $3.23 million, a P/E ratio of -0.12 and a beta of 0.60. The business has a fifty day simple moving average of $1.58 and a two-hundred day simple moving average of $2.76.

Dermata Therapeutics (NASDAQ:DRMA) last released its earnings results on Thursday, March 26th. The company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.02.

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% of Dermata Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 8.67% of the company’s stock.

About Dermata Therapeutics

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.