Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Expands By 125.7%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 128,400 shares, a growth of 125.7% from the November 30th total of 56,900 shares. Currently, 6.4% of the company’s stock are sold short. Based on an average trading volume of 305,000 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Dermata Therapeutics

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

Dermata Therapeutics Trading Down 1.9 %

Shares of Dermata Therapeutics stock opened at $1.33 on Friday. Dermata Therapeutics has a twelve month low of $1.00 and a twelve month high of $13.35. The stock has a market cap of $2.71 million, a price-to-earnings ratio of -0.08 and a beta of 0.79. The company has a fifty day moving average price of $1.25 and a 200 day moving average price of $1.73.

Dermata Therapeutics Company Profile

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.