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

by · The Cerbat Gem

Dermata Therapeutics, Inc. (NASDAQ:DRMA – Get Free Report) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 69,100 shares, a growth of 558.1% from the September 15th total of 10,500 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average trading volume of 2,530,000 shares, the short-interest ratio is currently 0.0 days.

Dermata Therapeutics Trading Up 0.7 %

Shares of NASDAQ:DRMA traded up $0.01 on Friday, reaching $1.35. 28,262 shares of the company were exchanged, compared to its average volume of 865,756. Dermata Therapeutics has a 1-year low of $1.29 and a 1-year high of $14.63. The firm has a market cap of $758,700.00, a price-to-earnings ratio of -0.05 and a beta of 0.78. The company has a 50-day moving average of $1.79 and a 200-day moving average of $3.11.

Dermata Therapeutics (NASDAQ:DRMA – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($4.18) earnings per share for the quarter, missing the consensus estimate of ($3.79) by ($0.39).

Analyst Upgrades and Downgrades

Separately, Maxim Group dropped 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 Report on DRMA

Hedge Funds Weigh In On Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,000 shares of the company’s stock, valued at approximately $67,000. Armistice Capital LLC owned approximately 4.98% of Dermata Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 8.67% of the company’s stock.

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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