Dermata Therapeutics (NASDAQ:DRMA) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Dermata Therapeutics (NASDAQ:DRMA) from a hold rating to a sell rating in a research report report published on Saturday.

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

Dermata Therapeutics Price Performance

Shares of DRMA opened at $1.19 on Friday. The firm has a 50-day simple moving average of $1.77 and a two-hundred day simple moving average of $3.10. The stock has a market cap of $3.38 million, a PE ratio of -0.15 and a beta of 0.60. Dermata Therapeutics has a 1-year low of $1.11 and a 1-year high of $23.70.

Institutional Trading of Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned 0.60% of Dermata Therapeutics at the end of the most recent reporting period. 8.67% of the stock is owned by institutional investors.

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.