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

Wall Street Zen upgraded shares of Dermata Therapeutics (NASDAQ:DRMA) from a sell rating to a hold rating in a report published on Saturday.

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Dermata Therapeutics in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

Dermata Therapeutics Stock Down 4.0%

Shares of Dermata Therapeutics stock opened at $1.20 on Friday. The business has a fifty day simple moving average of $1.96 and a 200 day simple moving average of $3.41. The stock has a market cap of $3.41 million, a PE ratio of -0.15 and a beta of 0.55. Dermata Therapeutics has a 12 month low of $1.16 and a 12 month high of $23.70.

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. bought a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% 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 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.