Dermata Therapeutics (NASDAQ:DRMA) Stock Rating Lowered by Wall Street Zen

Dermata Therapeutics (NASDAQ:DRMA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Dermata Therapeutics currently has an average rating of “Hold” and an average target price of $10.00.

Dermata Therapeutics Stock Performance

Shares of DRMA opened at $1.19 on Friday. The company has a market cap of $3.37 million, a price-to-earnings ratio of -0.15 and a beta of 0.60. The stock has a fifty day moving average price of $1.77 and a two-hundred day moving average price of $3.08. Dermata Therapeutics has a 52-week low of $1.11 and a 52-week high of $23.70.

Hedge Funds Weigh In On Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. bought a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the fourth quarter, according to the company in its most recent 13F 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 at the end of the most recent quarter. 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.