Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Significant Growth in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 69,100 shares, an increase of 558.1% from the September 15th total of 10,500 shares. Based on an average daily volume of 2,530,000 shares, the short-interest ratio is currently 0.0 days. Currently, 4.7% of the shares of the stock are sold short.

Dermata Therapeutics Stock Performance

Shares of Dermata Therapeutics stock traded up $0.01 during trading hours on Friday, reaching $1.35. 28,262 shares of the company were exchanged, compared to its average volume of 865,756. The firm has a market cap of $758,700.00, a PE ratio of -0.05 and a beta of 0.78. The stock’s fifty day moving average is $1.79 and its 200 day moving average is $3.11. Dermata Therapeutics has a 1 year low of $1.29 and a 1 year high of $14.63.

Dermata Therapeutics (NASDAQ:DRMA) last issued its earnings results on Wednesday, August 7th. The company reported ($4.18) EPS for the quarter, missing analysts’ consensus estimates of ($3.79) by ($0.39).

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC purchased a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,000 shares of the company’s stock, valued at approximately $67,000. Armistice Capital LLC owned 4.98% of Dermata Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Maxim Group cut their price objective on shares of Dermata Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 21st.

About Dermata Therapeutics

Dermata Therapeutics, Inc, a late-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.