Dermata Therapeutics (NASDAQ:DRMA) Raised to Hold at Wall Street Zen

Dermata Therapeutics (NASDAQ:DRMA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Dermata Therapeutics Stock Performance

Shares of Dermata Therapeutics stock opened at $1.18 on Friday. The stock has a market capitalization of $3.35 million, a price-to-earnings ratio of -0.13 and a beta of 0.60. Dermata Therapeutics has a 1-year low of $1.11 and a 1-year high of $13.20. The firm’s 50-day moving average price is $1.60 and its two-hundred day moving average price is $2.79.

Dermata Therapeutics (NASDAQ:DRMA) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.54) by $0.02.

Institutional Investors 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) in the 4th quarter, according to its most recent Form 13F 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 0.60% of Dermata Therapeutics as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 8.67% of the company’s stock.

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.