Dermata Therapeutics (NASDAQ:DRMA) Trading Down 3%

Dermata Therapeutics, Inc. (NASDAQ:DRMA)’s stock price traded down 3% during mid-day trading on Tuesday . The company traded as low as $0.40 and last traded at $0.41. 21,798 shares were traded during mid-day trading, a decline of 97% from the average session volume of 769,597 shares. The stock had previously closed at $0.42.

Dermata Therapeutics Price Performance

The firm’s 50-day simple moving average is $0.43 and its 200 day simple moving average is $0.60. The firm has a market capitalization of $2.75 million, a price-to-earnings ratio of -0.11 and a beta of 0.87.

Hedge Funds Weigh In On Dermata Therapeutics

A number of institutional investors have recently modified their holdings of DRMA. Raymond James Financial Services Advisors Inc. bought a new position in Dermata Therapeutics in the fourth quarter valued at about $58,000. Renaissance Technologies LLC bought a new stake in shares of Dermata Therapeutics during the 1st quarter valued at approximately $34,000. Citadel Advisors LLC acquired a new position in Dermata Therapeutics during the 2nd quarter worth approximately $29,000. Acadian Asset Management LLC lifted its stake in Dermata Therapeutics by 34.2% in the 3rd quarter. Acadian Asset Management LLC now owns 75,538 shares of the company’s stock valued at $79,000 after purchasing an additional 19,253 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in Dermata Therapeutics in the fourth quarter valued at approximately $133,000. Institutional investors and hedge funds own 8.67% of the company’s stock.

About Dermata Therapeutics

Dermata Therapeutics, Inc, a clinical-stage medical dermatology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions and diseases. The company's lead product candidate is DMT310, which has completed Phase IIb clinical trial for treatment of moderate-to-severe acne; and Phase Ib proof of concept (POC) trial for Mild-to-Moderate Psoriasis, as well as is in a Phase 2 clinical trial for treatment of moderate-to-severe rosacea.