Wall Street Zen Downgrades Dermata Therapeutics (NASDAQ:DRMA) to Sell

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

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Dermata Therapeutics in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

Dermata Therapeutics Stock Performance

Shares of DRMA stock opened at $1.19 on Friday. The company has a market capitalization of $3.38 million, a PE ratio of -0.15 and a beta of 0.60. Dermata Therapeutics has a 52-week low of $1.11 and a 52-week high of $23.70. The business’s fifty day moving average is $1.77 and its 200 day moving average is $3.11.

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. bought a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% of Dermata Therapeutics as of its most recent filing with the Securities & Exchange Commission. 8.67% of the stock is currently owned by institutional investors and hedge funds.

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.