Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Update

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 409,394 shares, an increase of 28.3% from the January 15th total of 319,014 shares. Based on an average trading volume of 3,466,499 shares, the days-to-cover ratio is presently 0.1 days. Currently, 17.7% of the company’s stock are sold short. Currently, 17.7% of the company’s stock are sold short. Based on an average trading volume of 3,466,499 shares, the days-to-cover ratio is presently 0.1 days.

Dermata Therapeutics Stock Down 2.3%

Shares of DRMA stock opened at $1.26 on Wednesday. The company has a market cap of $3.58 million, a P/E ratio of -0.16 and a beta of 0.55. The business has a 50 day moving average of $2.14 and a two-hundred day moving average of $3.68. Dermata Therapeutics has a 52 week low of $1.21 and a 52 week high of $23.70.

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 its most recent 13F filing with the Securities and 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Dermata Therapeutics to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a “sell (e)” rating on shares of Dermata Therapeutics in a research note on Monday, December 29th. One 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 a consensus target price 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.