Dermata Therapeutics, Inc. (NASDAQ:DRMA) Short Interest Update

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 93,700 shares, a growth of 228.8% from the October 15th total of 28,500 shares. Based on an average daily trading volume, of 526,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 6.3% of the company’s stock are short sold.

Institutional Trading of Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC purchased a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,000 shares of the company’s stock, valued at approximately $67,000. Armistice Capital LLC owned 4.98% of Dermata Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 8.67% of the company’s stock.

Analysts Set New Price Targets

Separately, Maxim Group reduced their target price on Dermata Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Dermata Therapeutics Price Performance

Dermata Therapeutics stock traded down $0.06 during trading hours on Wednesday, hitting $1.23. The company had a trading volume of 50,144 shares, compared to its average volume of 794,468. Dermata Therapeutics has a one year low of $1.20 and a one year high of $14.63. The firm has a 50-day moving average of $1.50 and a 200 day moving average of $2.42. The firm has a market cap of $1.86 million, a PE ratio of -0.05 and a beta of 0.79.

Dermata Therapeutics Company Profile

Dermata Therapeutics, Inc, a late-stage medical dermatology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions and diseases. 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.