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

Dermata Therapeutics, Inc. (NASDAQ:DRMAGet Rating) was the recipient of a large decline in short interest in the month of December. As of December 30th, there was short interest totalling 111,700 shares, a decline of 5.7% from the December 15th total of 118,500 shares. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.4% of the shares of the company are short sold.

Dermata Therapeutics Stock Up 15.0 %

Shares of DRMA opened at $0.29 on Monday. Dermata Therapeutics has a 12-month low of $0.16 and a 12-month high of $2.45. The business has a 50-day simple moving average of $0.37 and a two-hundred day simple moving average of $0.56.

Dermata Therapeutics (NASDAQ:DRMAGet Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.20) earnings per share (EPS) for the quarter. As a group, analysts expect that Dermata Therapeutics will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on DRMA shares. Brookline Capital Management reiterated a “buy” rating on shares of Dermata Therapeutics in a research report on Monday, October 3rd. Maxim Group reduced their price objective on shares of Dermata Therapeutics from $4.00 to $1.00 in a research note on Tuesday, December 6th.

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Virtu Financial LLC acquired a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMAGet Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 70,808 shares of the company’s stock, valued at approximately $37,000. Virtu Financial LLC owned 0.70% of Dermata Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 1.63% of the stock is owned by hedge funds and other institutional investors.

About Dermata Therapeutics

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Dermata Therapeutics, Inc, a clinical-stage biotechnology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions. The company's lead product candidate is DMT310, which has completed Phase IIb clinical trial for treatment of moderate-to-severe acne; and Phase Ib proof of concept (POC) trial for Mild-to-Moderate Psoriasis, as well as is in a Phase 2 clinical trial for treatment of moderate-to-severe rosacea.

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