Dermata Therapeutics (NASDAQ:DRMA) Issues Quarterly Earnings Results

Dermata Therapeutics (NASDAQ:DRMA) announced its quarterly earnings results on Tuesday. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.19), FiscalAI reports.

Dermata Therapeutics Price Performance

Shares of Dermata Therapeutics stock traded down $0.04 during trading on Tuesday, hitting $1.08. The stock had a trading volume of 18,229,723 shares, compared to its average volume of 986,420. The business has a fifty day moving average of $1.25 and a two-hundred day moving average of $1.37. Dermata Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $6.58. The firm has a market cap of $4.34 million, a P/E ratio of -0.20 and a beta of 0.66.

Institutional Investors Weigh In On Dermata Therapeutics

An institutional investor 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) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% of Dermata Therapeutics at the end of the most recent quarter. 8.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Dermata Therapeutics presently has a consensus rating of “Hold” and an average target price of $10.00.

About Dermata Therapeutics

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.