Dermata Therapeutics (NASDAQ:DRMA) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Dermata Therapeutics (NASDAQ:DRMA) announced its quarterly earnings data on Tuesday. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.19), FiscalAI reports.

Dermata Therapeutics Stock Down 3.6%

NASDAQ DRMA traded down $0.04 during trading hours on Tuesday, hitting $1.08. The company had a trading volume of 18,229,723 shares, compared to its average volume of 986,420. The firm has a market cap of $4.34 million, a P/E ratio of -0.20 and a beta of 0.66. Dermata Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $6.58. The business has a fifty day simple moving average of $1.25 and a 200-day simple moving average of $1.37.

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. bought a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned about 0.60% of Dermata Therapeutics at the end of the most recent quarter. 8.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. One equities research 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 a consensus price target of $10.00.

About Dermata Therapeutics

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.