Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Update

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 366,825 shares, a growth of 622.7% from the July 30th total of 50,755 shares. Based on an average daily volume of 4,126,993 shares, the days-to-cover ratio is currently 0.1 days. Approximately 11.7% of the company’s stock are short sold.

Dermata Therapeutics Stock Performance

Shares of NASDAQ DRMA opened at $1.72 on Wednesday. Dermata Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $6.22. The company has a market cap of $6.91 million, a PE ratio of -0.39 and a beta of 0.66. The business has a 50-day simple moving average of $1.30 and a two-hundred day simple moving average of $1.30.

Dermata Therapeutics (NASDAQ:DRMA) last released its earnings results on Tuesday, August 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.19).

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Dermata Therapeutics

An institutional investor recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. bought a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned 0.60% of Dermata Therapeutics at the end of the most recent reporting period. Institutional investors own 8.67% of the company’s stock.

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.