Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Significant Increase in Short Interest

by · The Markets Daily

Dermata Therapeutics, Inc. (NASDAQ:DRMA – Get Free Report) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 93,700 shares, an increase of 228.8% from the October 15th total of 28,500 shares. Approximately 6.3% of the shares of the stock are sold short. Based on an average daily volume of 526,100 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,000 shares of the company’s stock, valued at approximately $67,000. Armistice Capital LLC owned about 4.98% of Dermata Therapeutics as of its most recent SEC filing. 8.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Maxim Group decreased their target price on Dermata Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st.

Check Out Our Latest Stock Report on Dermata Therapeutics

Dermata Therapeutics Price Performance

DRMA stock traded down $0.06 during trading on Wednesday, reaching $1.23. 50,144 shares of the company were exchanged, compared to its average volume of 794,468. The company has a market capitalization of $1.86 million, a price-to-earnings ratio of -0.06 and a beta of 0.79. The company has a 50-day moving average of $1.50 and a two-hundred day moving average of $2.42. Dermata Therapeutics has a twelve month low of $1.20 and a twelve month high of $14.63.

Dermata Therapeutics Company Profile

(Get Free Report)

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.

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