Dermata Therapeutics (NASDAQ:DRMA) Raised to Hold at Wall Street Zen

Dermata Therapeutics (NASDAQ:DRMA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Dermata Therapeutics presently has a consensus rating of “Hold” and an average target price of $10.00.

Dermata Therapeutics Trading Down 4.0%

Shares of NASDAQ:DRMA opened at $1.20 on Friday. The firm has a market cap of $3.41 million, a price-to-earnings ratio of -0.15 and a beta of 0.60. The stock’s 50-day moving average price is $1.96 and its two-hundred day moving average price is $3.39. Dermata Therapeutics has a 12-month low of $1.16 and a 12-month high of $23.70.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 hedge funds and other institutional investors.

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.