Dermata Therapeutics (NASDAQ:DRMA) Stock Price Down 0.8% – Here’s What Happened
by Renee Jackson · The Cerbat GemDermata Therapeutics, Inc. (NASDAQ:DRMA – Get Free Report)’s share price fell 0.8% during trading on Tuesday . The company traded as low as $1.18 and last traded at $1.19. 41,020 shares were traded during mid-day trading, a decline of 23% from the average session volume of 53,535 shares. The stock had previously closed at $1.20.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on DRMA. Wall Street Zen upgraded Dermata Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings lowered shares of Dermata Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.
View Our Latest Analysis on DRMA
Dermata Therapeutics Price Performance
The business’s fifty day moving average price is $1.26 and its two-hundred day moving average price is $1.66. The stock has a market capitalization of $4.71 million, a PE ratio of -0.22 and a beta of 0.69.
Dermata Therapeutics (NASDAQ:DRMA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.05.
Institutional Investors Weigh In On Dermata Therapeutics
An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA – Free Report) during 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 0.60% of Dermata Therapeutics at the end of the most recent quarter. 8.67% of the stock is owned by hedge funds and other institutional investors.
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.