Dermata Therapeutics (NASDAQ:DRMA) Stock Price Down 5.7% – Should You Sell?

Dermata Therapeutics, Inc. (NASDAQ:DRMA)’s stock price dropped 5.7% during mid-day trading on Thursday . The company traded as low as $4.59 and last traded at $4.65. Approximately 19,816 shares were traded during trading, a decline of 49% from the average daily volume of 38,545 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lowered their price target on Dermata Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Dermata Therapeutics presently has an average rating of “Buy” and a consensus target price of $10.00.

Dermata Therapeutics Price Performance

The business has a 50-day simple moving average of $5.94 and a 200 day simple moving average of $7.48. The firm has a market cap of $3.16 million, a PE ratio of -0.28 and a beta of 0.56.

Dermata Therapeutics (NASDAQ:DRMA) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($1.66) EPS for the quarter, topping analysts’ consensus estimates of ($2.90) by $1.24.

Institutional Trading of Dermata Therapeutics

A hedge fund recently raised its stake in Dermata Therapeutics stock. Armistice Capital LLC boosted its position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) by 1,411.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 411,000 shares of the company’s stock after buying an additional 383,800 shares during the period. Armistice Capital LLC owned approximately 6.81% of Dermata Therapeutics worth $444,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Dermata Therapeutics Company 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.