Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Update

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 43,939 shares, a decrease of 61.0% from the February 26th total of 112,575 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 131,511 shares, the short-interest ratio is presently 0.3 days.

Dermata Therapeutics Stock Performance

Shares of Dermata Therapeutics stock opened at $1.46 on Thursday. The company has a 50-day simple moving average of $1.64 and a two-hundred day simple moving average of $2.86. The stock has a market capitalization of $4.15 million, a PE ratio of -0.19 and a beta of 0.60. Dermata Therapeutics has a 52-week low of $1.11 and a 52-week high of $23.70.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen cut Dermata Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Weiss Ratings reissued a “sell (e)” rating on shares of Dermata Therapeutics in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Dermata Therapeutics has an average rating of “Hold” and an average target price 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 filing with the Securities and Exchange Commission. The firm bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned about 0.60% of Dermata Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 8.67% of the company’s stock.

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.