Dermata Therapeutics (NASDAQ:DRMA) Issues Earnings Results, Beats Estimates By $0.05 EPS

Dermata Therapeutics (NASDAQ:DRMA) posted its earnings results on Wednesday. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.05, FiscalAI reports.

Dermata Therapeutics Stock Down 1.2%

Shares of Dermata Therapeutics stock traded down $0.02 during trading hours on Friday, reaching $1.22. 19,085 shares of the company’s stock were exchanged, compared to its average volume of 1,396,784. Dermata Therapeutics has a 1 year low of $1.10 and a 1 year high of $8.50. The company has a market capitalization of $4.88 million, a P/E ratio of -0.23 and a beta of 0.67. The business has a fifty day moving average of $1.28 and a two-hundred day moving average of $1.99.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Dermata Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Dermata Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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 position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% of Dermata Therapeutics as of its most recent SEC filing. 8.67% of the stock is currently owned by institutional investors and hedge funds.

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.