Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Update
by Sarita Garza · The Markets DailyDermata Therapeutics, Inc. (NASDAQ:DRMA – Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 43,939 shares, a decline of 61.0% from the February 26th total of 112,575 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 131,511 shares, the short-interest ratio is currently 0.3 days.
Hedge Funds Weigh In On Dermata Therapeutics
A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned 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 Trading Down 14.3%
DRMA traded down $0.20 during midday trading on Friday, hitting $1.17. The company’s stock had a trading volume of 294,944 shares, compared to its average volume of 2,157,765. The firm has a market cap of $3.33 million, a P/E ratio of -0.15 and a beta of 0.60. The firm has a 50-day moving average price of $1.63 and a two-hundred day moving average price of $2.85. Dermata Therapeutics has a 52-week low of $1.11 and a 52-week high of $13.20.
Dermata Therapeutics (NASDAQ:DRMA – Get Free Report) last announced 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.
Wall Street Analysts Forecast Growth
Several research firms have commented on DRMA. Wall Street Zen cut shares of Dermata Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Weiss Ratings reissued a “sell (e)” rating on shares of Dermata Therapeutics in a research note on Monday, December 29th. One investment 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.00.
Read Our Latest Research Report on Dermata Therapeutics
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.