Dermata Therapeutics (NASDAQ:DRMA) Issues Quarterly Earnings Results

Dermata Therapeutics (NASDAQ:DRMA) announced its quarterly earnings results on Wednesday. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.05, FiscalAI reports.

Dermata Therapeutics Price Performance

DRMA stock traded down $0.05 during midday trading on Wednesday, reaching $1.19. The company had a trading volume of 62,601 shares, compared to its average volume of 1,426,614. The company has a market capitalization of $4.79 million, a price-to-earnings ratio of -0.13 and a beta of 0.67. The stock has a 50 day moving average price of $1.28 and a 200-day moving average price of $2.01. Dermata Therapeutics has a 1-year low of $1.10 and a 1-year high of $8.50.

Analysts Set New Price Targets

DRMA has been the subject of several research reports. Weiss Ratings downgraded Dermata Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, May 4th. Wall Street Zen raised Dermata Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Dermata Therapeutics presently has an average rating of “Hold” and a consensus target price of $10.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 as of its most recent SEC filing. 8.67% of the stock is owned by institutional investors.

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.