Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Drops By 24.1%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 200,344 shares, a decline of 24.1% from the March 31st total of 264,037 shares. Approximately 6.1% of the company’s stock are sold short. Based on an average daily trading volume, of 87,688 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Dermata Therapeutics from a “sell” rating to a “hold” rating in a research 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’s stock. According to MarketBeat, Dermata Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Trading of Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 reporting period. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Dermata Therapeutics Price Performance

Shares of NASDAQ:DRMA traded up $0.11 during trading on Thursday, hitting $1.37. 80,841 shares of the company were exchanged, compared to its average volume of 1,577,604. The stock has a market capitalization of $5.51 million, a P/E ratio of -0.15 and a beta of 0.50. Dermata Therapeutics has a 12-month low of $1.10 and a 12-month high of $9.90. The firm’s 50 day moving average price is $1.29 and its 200-day moving average price is $2.18.

Dermata Therapeutics (NASDAQ:DRMA) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.02.

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.