Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Rises By 11.3%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 142,900 shares, an increase of 11.3% from the December 15th total of 128,400 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average trading volume of 310,400 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Dermata Therapeutics Price Performance

DRMA remained flat at $1.33 during trading hours on Monday. The company had a trading volume of 65,599 shares, compared to its average volume of 244,543. Dermata Therapeutics has a 12-month low of $1.00 and a 12-month high of $8.66. The stock has a market capitalization of $2.71 million, a price-to-earnings ratio of -0.08 and a beta of 0.66. The business’s fifty day moving average is $1.24 and its 200-day moving average is $1.60.

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.