Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Decreases By 50.7%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 64,856 shares, a decline of 50.7% from the June 30th total of 131,494 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average trading volume of 88,114 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus 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 Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Dermata Therapeutics Trading Down 0.1%

Shares of DRMA stock traded down $0.00 during trading on Thursday, hitting $1.18. The company’s stock had a trading volume of 30,350 shares, compared to its average volume of 926,972. The company has a market cap of $4.74 million, a PE ratio of -0.22 and a beta of 0.67. The business has a fifty day moving average of $1.27 and a 200-day moving average of $1.42. Dermata Therapeutics has a 52 week low of $1.10 and a 52 week high of $7.14.

Dermata Therapeutics (NASDAQ:DRMA) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.05.

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.