Dermata Therapeutics (NASDAQ:DRMA) Releases Quarterly Earnings Results

Dermata Therapeutics (NASDAQ:DRMA) issued its quarterly earnings data on Friday. The company reported ($1.65) earnings per share (EPS) for the quarter, FiscalAI reports.

Dermata Therapeutics Stock Performance

Shares of Dermata Therapeutics stock traded down $0.07 during trading on Friday, hitting $3.07. 41,472 shares of the company’s stock were exchanged, compared to its average volume of 49,317. The stock has a market capitalization of $2.09 million, a price-to-earnings ratio of -0.12 and a beta of 0.53. The business has a 50-day simple moving average of $4.40 and a 200-day simple moving average of $6.00. Dermata Therapeutics has a 52-week low of $2.90 and a 52-week high of $23.70.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Dermata Therapeutics stock. Armistice Capital LLC lifted its position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) by 1,411.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,000 shares of the company’s stock after purchasing an additional 383,800 shares during the quarter. Armistice Capital LLC owned 6.81% of Dermata Therapeutics worth $444,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on DRMA. Weiss Ratings restated a “sell (e+)” rating on shares of Dermata Therapeutics in a report on Tuesday. Maxim Group cut their price target on shares of Dermata Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

About Dermata Therapeutics

Dermata Therapeutics, Inc, a late-stage medical dermatology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions and diseases. The company's lead product candidate is DMT310, which has completed Phase IIb clinical trial for treatment of moderate-to-severe acne; and Phase Ib proof of concept (POC) trial for Mild-to-Moderate Psoriasis, as well as is in a Phase 2 clinical trial for treatment of moderate-to-severe rosacea.