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

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a significant drop in short interest in the month of 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 daily volume of 142,173 shares, the short-interest ratio is currently 1.2 days. Currently, 5.3% of the shares of the stock are short sold.

Dermata Therapeutics Trading Up 1.8%

NASDAQ DRMA traded up $0.02 during trading on Wednesday, hitting $1.15. 19,750 shares of the company’s stock were exchanged, compared to its average volume of 1,003,819. The company has a market cap of $4.62 million, a PE ratio of -0.27 and a beta of 0.69. Dermata Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $5.98. The stock’s 50 day moving average price is $1.30 and its two-hundred day moving average price is $1.28.

Dermata Therapeutics (NASDAQ:DRMA) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.19).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Dermata Therapeutics has a consensus rating of “Sell”.

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.