Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Drops By 54.4%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 167,251 shares, a decrease of 54.4% from the August 15th total of 366,825 shares. Based on an average daily volume of 142,173 shares, the days-to-cover ratio is currently 1.2 days. Approximately 5.3% of the company’s stock are short sold.

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned about 0.60% of Dermata Therapeutics as of its most recent filing with the SEC. Institutional investors and hedge funds own 8.67% of the company’s stock.

Dermata Therapeutics Price Performance

DRMA stock opened at $1.19 on Monday. The firm has a market capitalization of $4.78 million, a PE ratio of -0.27 and a beta of 0.69. Dermata Therapeutics has a twelve month low of $0.95 and a twelve month high of $6.22. The stock’s 50 day moving average is $1.31 and its 200-day moving average is $1.28.

Dermata Therapeutics (NASDAQ:DRMA) last released its quarterly 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).

Wall Street Analysts Forecast Growth

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

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.