Dermata Therapeutics (NASDAQ:DRMA) Posts Earnings Results, Beats Expectations By $0.05 EPS

Dermata Therapeutics (NASDAQ:DRMA) posted its quarterly earnings data on Wednesday. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.05, FiscalAI reports.

Dermata Therapeutics Stock Performance

DRMA stock traded down $0.05 during midday trading on Wednesday, reaching $1.19. The stock had a trading volume of 62,601 shares, compared to its average volume of 69,638. The firm has a fifty day simple moving average of $1.28 and a two-hundred day simple moving average of $2.01. Dermata Therapeutics has a 52-week low of $1.10 and a 52-week high of $8.50.

Wall Street Analysts Forecast Growth

DRMA has been the subject of a number of recent analyst reports. Weiss Ratings cut Dermata Therapeutics from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, May 4th. Wall Street Zen raised Dermata Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 filing with the SEC. 8.67% of the stock is currently owned by 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.