Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Up 500.9% in March
by Kim Johansen · The Markets DailyDermata Therapeutics, Inc. (NASDAQ:DRMA – Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 264,037 shares, a growth of 500.9% from the March 15th total of 43,939 shares. Based on an average daily trading volume, of 3,818,745 shares, the days-to-cover ratio is currently 0.1 days. Approximately 8.1% of the shares of the company are sold short.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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 SEC filing. 8.67% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on DRMA shares. Wall Street Zen raised Dermata Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reissued a “sell (e)” rating on shares of Dermata Therapeutics in a 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 stock. According to MarketBeat, Dermata Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $10.00.
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Dermata Therapeutics Price Performance
DRMA stock traded up $0.01 during midday trading on Friday, reaching $1.22. The company had a trading volume of 75,171 shares, compared to its average volume of 2,375,582. The company has a market capitalization of $4.90 million, a price-to-earnings ratio of -0.13 and a beta of 0.50. The stock has a 50 day moving average price of $1.37 and a 200-day moving average price of $2.53. Dermata Therapeutics has a 1-year low of $1.10 and a 1-year high of $9.90.
Dermata Therapeutics (NASDAQ:DRMA – Get Free Report) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $0.02.
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.