Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Large Increase in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 39,351 shares, a growth of 88.8% from the November 30th total of 20,846 shares. Currently, 4.7% of the company’s stock are short sold. Based on an average daily trading volume, of 338,017 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 338,017 shares, the days-to-cover ratio is presently 0.1 days. Currently, 4.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Dermata Therapeutics

An institutional investor recently raised its position in Dermata Therapeutics stock. Armistice Capital LLC grew its position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) by 1,411.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 411,000 shares of the company’s stock after acquiring an additional 383,800 shares during the quarter. Armistice Capital LLC owned about 6.81% of Dermata Therapeutics worth $444,000 at the end of the most recent reporting period. 8.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Dermata Therapeutics in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Dermata Therapeutics Trading Down 8.6%

NASDAQ:DRMA traded down $0.16 during midday trading on Monday, hitting $1.70. 120,163 shares of the company were exchanged, compared to its average volume of 189,313. Dermata Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $23.70. The company has a market capitalization of $1.75 million, a PE ratio of -0.22 and a beta of 0.53. The company has a fifty day simple moving average of $2.99 and a 200 day simple moving average of $4.90.

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

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.