Dermata Therapeutics (NASDAQ:DRMA) Stock Price Down 0.8% – Here’s What Happened

Dermata Therapeutics, Inc. (NASDAQ:DRMA)’s share price fell 0.8% during trading on Tuesday . The company traded as low as $1.18 and last traded at $1.19. 41,020 shares were traded during mid-day trading, a decline of 23% from the average session volume of 53,535 shares. The stock had previously closed at $1.20.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DRMA. Wall Street Zen upgraded Dermata Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings lowered shares of Dermata Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Dermata Therapeutics Price Performance

The business’s fifty day moving average price is $1.26 and its two-hundred day moving average price is $1.66. The stock has a market capitalization of $4.71 million, a PE ratio of -0.22 and a beta of 0.69.

Dermata Therapeutics (NASDAQ:DRMA) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.05.

Institutional Investors Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 4th quarter, according to the company in its most recent filing with the 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 quarter. 8.67% of the stock is owned by hedge funds and other 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.