Armistice Capital LLC Acquires New Holdings in Dermata Therapeutics, Inc. (NASDAQ:DRMA)

Armistice Capital LLC purchased a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,000 shares of the company’s stock, valued at approximately $67,000. Armistice Capital LLC owned approximately 4.98% of Dermata Therapeutics as of its most recent SEC filing.

Dermata Therapeutics Trading Up 0.6 %

Shares of DRMA opened at $1.56 on Friday. The firm’s fifty day simple moving average is $1.94 and its 200-day simple moving average is $3.46. The firm has a market capitalization of $876,720.00, a price-to-earnings ratio of -0.06 and a beta of 0.77. Dermata Therapeutics, Inc. has a twelve month low of $1.29 and a twelve month high of $16.80.

Dermata Therapeutics (NASDAQ:DRMA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.79) by ($0.39).

Analysts Set New Price Targets

Separately, Maxim Group reduced their target price on shares of Dermata Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st.

Dermata Therapeutics Profile

Dermata Therapeutics, Inc, a late-stage medical dermatology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions and diseases. The company's lead product candidate is DMT310, which has completed Phase IIb clinical trial for treatment of moderate-to-severe acne; and Phase Ib proof of concept (POC) trial for Mild-to-Moderate Psoriasis, as well as is in a Phase 2 clinical trial for treatment of moderate-to-severe rosacea.