Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Significant Decline in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 32,216 shares, a decrease of 92.1% from the January 29th total of 409,394 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 276,133 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 276,133 shares, the short-interest ratio is currently 0.1 days. Currently, 1.4% of the shares of the company are sold short.

Hedge Funds 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) during the 4th quarter, according to the company in its most recent filing with the Securities & 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 SEC filing. 8.67% of the stock is owned by hedge funds and other institutional investors.

Dermata Therapeutics Stock Performance

Shares of Dermata Therapeutics stock opened at $1.22 on Thursday. The firm has a 50-day simple moving average of $2.00 and a two-hundred day simple moving average of $3.48. Dermata Therapeutics has a fifty-two week low of $1.16 and a fifty-two week high of $23.70. The company has a market cap of $3.46 million, a P/E ratio of -0.16 and a beta of 0.55.

Wall Street Analysts Forecast Growth

DRMA has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. Wall Street Zen raised shares of Dermata Therapeutics to a “sell” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.00.

About Dermata Therapeutics

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.