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

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 43,939 shares, a drop of 61.0% from the February 26th total of 112,575 shares. Based on an average trading volume of 131,511 shares, the days-to-cover ratio is currently 0.3 days. Currently, 1.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

DRMA has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Dermata Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a research note 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. Based on data from MarketBeat.com, Dermata Therapeutics has an average rating of “Hold” and an average price target of $10.00.

Institutional Investors 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 shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission. 8.67% of the stock is owned by institutional investors and hedge funds.

Dermata Therapeutics Price Performance

NASDAQ:DRMA opened at $1.46 on Thursday. The firm’s 50-day moving average price is $1.64 and its 200-day moving average price is $2.86. The company has a market capitalization of $4.15 million, a PE ratio of -0.19 and a beta of 0.60. Dermata Therapeutics has a 1-year low of $1.11 and a 1-year high of $23.70.

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.