Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Significant Decline in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 319,014 shares, a decrease of 57.6% from the December 31st total of 752,424 shares. Based on an average daily volume of 206,384 shares, the short-interest ratio is presently 1.5 days. Currently, 38.2% of the company’s stock are sold short. Currently, 38.2% of the company’s stock are sold short. Based on an average daily volume of 206,384 shares, the short-interest ratio is presently 1.5 days.

Dermata Therapeutics Stock Up 14.0%

Shares of Dermata Therapeutics stock traded up $0.35 on Thursday, reaching $2.87. 1,167,195 shares of the stock were exchanged, compared to its average volume of 1,872,419. The business has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $4.20. The firm has a market capitalization of $2.96 million, a price-to-earnings ratio of -0.37 and a beta of 0.54. Dermata Therapeutics has a twelve month low of $1.58 and a twelve month high of $23.70.

Dermata Therapeutics (NASDAQ:DRMA) last announced its quarterly earnings data on Friday, November 14th. The company reported ($1.65) EPS for the quarter, missing the consensus estimate of ($1.59) by ($0.06).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Dermata Therapeutics currently has an average rating of “Hold” and an average price target of $10.00.

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.