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

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

Analysts Set New Price Targets

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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Dermata Therapeutics Trading Down 1.7%

Shares of NASDAQ:DRMA traded down $0.02 during trading on Tuesday, hitting $1.13. 36,809 shares of the stock were exchanged, compared to its average volume of 1,009,419. Dermata Therapeutics has a 12-month low of $0.95 and a 12-month high of $6.22. The company has a market cap of $4.54 million, a PE ratio of -0.26 and a beta of 0.69. The company has a fifty day moving average price of $1.30 and a two-hundred day moving average price of $1.28.

Dermata Therapeutics (NASDAQ:DRMA) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.19).

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.