Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Update

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 112,575 shares, a growth of 249.4% from the February 12th total of 32,216 shares. Based on an average daily trading volume, of 4,347,278 shares, the days-to-cover ratio is presently 0.0 days. Currently, 4.9% of the company’s shares are sold short. Currently, 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 4,347,278 shares, the days-to-cover ratio is presently 0.0 days.

Dermata Therapeutics Trading Down 5.3%

NASDAQ DRMA traded down $0.07 during trading hours on Thursday, reaching $1.24. 80,667 shares of the company’s stock traded hands, compared to its average volume of 2,054,912. Dermata Therapeutics has a 52-week low of $1.11 and a 52-week high of $23.70. The firm has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $3.15.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DRMA shares. Wall Street Zen upgraded Dermata Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (e)” rating on shares of Dermata Therapeutics in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Dermata Therapeutics presently has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned about 0.60% of Dermata Therapeutics at the end of the most recent quarter. 8.67% of the stock is owned by hedge funds and other institutional investors.

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.