Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Up 622.7% in August

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 366,825 shares, a growth of 622.7% from the July 30th total of 50,755 shares. Based on an average daily volume of 4,126,993 shares, the days-to-cover ratio is currently 0.1 days. Approximately 11.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. bought a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) during 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 approximately 0.60% of Dermata Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.67% of the company’s stock.

Dermata Therapeutics Stock Down 6.5%

Dermata Therapeutics stock traded down $0.10 during mid-day trading on Thursday, hitting $1.50. 43,829 shares of the stock were exchanged, compared to its average volume of 1,079,663. Dermata Therapeutics has a 12 month low of $0.95 and a 12 month high of $6.22. The firm’s fifty day simple moving average is $1.31 and its two-hundred day simple moving average is $1.30. The stock has a market capitalization of $6.05 million, a price-to-earnings ratio of -0.34 and a beta of 0.66.

Dermata Therapeutics (NASDAQ:DRMA) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.19).

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.