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

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 366,825 shares, an increase 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 presently 0.1 days. Approximately 11.7% of the company’s stock are sold short.

Dermata Therapeutics Trading Up 5.5%

DRMA opened at $1.72 on Wednesday. The firm has a market cap of $6.91 million, a price-to-earnings ratio of -0.39 and a beta of 0.66. Dermata Therapeutics has a 12 month low of $0.95 and a 12 month high of $6.22. The stock has a fifty day moving average price of $1.30 and a 200-day moving average price of $1.30.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 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 filing with the SEC. 8.67% of the stock is currently owned by institutional investors and hedge funds.

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.