Wall Street Zen Upgrades Dermata Therapeutics (NASDAQ:DRMA) to Hold

Dermata Therapeutics (NASDAQ:DRMA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Dermata Therapeutics has an average rating of “Hold” and an average target price of $10.00.

Dermata Therapeutics Price Performance

Shares of Dermata Therapeutics stock opened at $1.20 on Friday. The stock has a market capitalization of $3.41 million, a price-to-earnings ratio of -0.15 and a beta of 0.55. Dermata Therapeutics has a 12 month low of $1.16 and a 12 month high of $23.70. The firm’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $3.43.

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 Securities & Exchange Commission. Institutional investors and hedge funds own 8.67% of the company’s stock.

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.