Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Large Decline in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 32,216 shares, a decline of 92.1% from the January 29th total of 409,394 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 276,133 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 276,133 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

DRMA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Dermata Therapeutics to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

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 Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC). 8.67% of the stock is owned by hedge funds and other institutional investors.

Dermata Therapeutics Price Performance

Shares of DRMA stock traded down $0.05 during midday trading on Friday, reaching $1.20. 183,028 shares of the company traded hands, compared to its average volume of 2,035,205. The firm’s 50 day simple moving average is $1.98 and its two-hundred day simple moving average is $3.46. The firm has a market cap of $3.41 million, a PE ratio of -0.15 and a beta of 0.55. Dermata Therapeutics has a 1-year low of $1.16 and a 1-year high of $23.70.

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.