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

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 10,500 shares, a drop of 53.5% from the August 31st total of 22,600 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 2,530,000 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC bought a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 218,000 shares of the company’s stock, valued at approximately $133,000. Armistice Capital LLC owned approximately 6.16% of Dermata Therapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 8.67% of the company’s stock.

Dermata Therapeutics Stock Performance

DRMA traded up $0.01 during midday trading on Thursday, reaching $1.56. 39,740 shares of the company were exchanged, compared to its average volume of 911,754. The company has a market cap of $876,720.00, a price-to-earnings ratio of -0.06 and a beta of 0.77. Dermata Therapeutics has a one year low of $1.29 and a one year high of $16.80. The company’s fifty day moving average price is $1.95 and its 200 day moving average price is $3.48.

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

About Dermata Therapeutics

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.