Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Significant Growth in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 752,424 shares, a growth of 1,812.1% from the December 15th total of 39,351 shares. Based on an average daily trading volume, of 4,189,295 shares, the short-interest ratio is presently 0.2 days. Approximately 90.0% of the company’s stock are short sold. Approximately 90.0% of the company’s stock are short sold. Based on an average daily trading volume, of 4,189,295 shares, the short-interest ratio is presently 0.2 days.

Dermata Therapeutics Trading Down 12.5%

DRMA traded down $0.26 on Monday, hitting $1.82. 146,150 shares of the stock traded hands, compared to its average volume of 2,464,863. The business has a fifty day moving average price of $2.61 and a two-hundred day moving average price of $4.54. Dermata Therapeutics has a 52 week low of $1.58 and a 52 week high of $23.70.

Dermata Therapeutics (NASDAQ:DRMA) last issued its earnings results on Friday, November 14th. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.59) by ($0.06).

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

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.