Dermata Therapeutics (NASDAQ:DRMA) Stock Price Up 1.2% – Should You Buy?

Dermata Therapeutics, Inc. (NASDAQ:DRMA)’s share price was up 1.2% on Thursday . The stock traded as high as $1.41 and last traded at $1.36. Approximately 298,686 shares changed hands during trading, a decline of 61% from the average daily volume of 760,423 shares. The stock had previously closed at $1.34.

Dermata Therapeutics Stock Up 1.2 %

The stock’s fifty day moving average is $1.26 and its 200-day moving average is $1.76. The stock has a market cap of $2.77 million, a price-to-earnings ratio of -0.08 and a beta of 0.79.

Institutional Investors Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 8.67% of the company’s stock.

Dermata Therapeutics Company Profile

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.