Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Grows By 28.3%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 409,394 shares, a growth of 28.3% from the January 15th total of 319,014 shares. Based on an average daily trading volume, of 3,466,499 shares, the short-interest ratio is presently 0.1 days. Approximately 17.7% of the company’s shares are short sold. Approximately 17.7% of the company’s shares are short sold. Based on an average daily trading volume, of 3,466,499 shares, the short-interest ratio is presently 0.1 days.

Dermata Therapeutics Stock Performance

NASDAQ DRMA traded down $0.05 on Tuesday, reaching $1.24. 48,843 shares of the stock traded hands, compared to its average volume of 1,288,332. Dermata Therapeutics has a 12 month low of $1.21 and a 12 month high of $23.70. The company has a fifty day moving average price of $2.18 and a 200-day moving average price of $3.72. The company has a market cap of $3.52 million, a price-to-earnings ratio of -0.16 and a beta of 0.54.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Dermata Therapeutics to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a “sell (e)” rating on shares of Dermata Therapeutics in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.00.

Hedge Funds Weigh In On Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. bought a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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 reporting period. 8.67% of the stock is owned by institutional investors and hedge funds.

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.