Dermata Therapeutics (NASDAQ:DRMA) Upgraded to “Hold” at Wall Street Zen

Dermata Therapeutics (NASDAQ:DRMA) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note 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 assigned a Sell rating to the company. According to MarketBeat, Dermata Therapeutics has a consensus rating of “Hold” and an average price target of $10.00.

Dermata Therapeutics Price Performance

DRMA opened at $1.18 on Friday. The firm has a market capitalization of $3.35 million, a P/E ratio of -0.13 and a beta of 0.60. Dermata Therapeutics has a one year low of $1.11 and a one year high of $13.20. The company has a fifty day moving average price of $1.60 and a 200-day moving average price of $2.82.

Dermata Therapeutics (NASDAQ:DRMA) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.02.

Institutional Investors Weigh In On Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% of Dermata Therapeutics at the end of the most recent quarter. Institutional investors 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.