Dermata Therapeutics (NASDAQ:DRMA) Stock Price Down 7.7% – Should You Sell?

Dermata Therapeutics, Inc. (NASDAQ:DRMA) traded down 7.7% during trading on Tuesday . The company traded as low as $1.97 and last traded at $2.04. 49,663 shares were traded during mid-day trading, a decline of 76% from the average session volume of 206,317 shares. The stock had previously closed at $2.21.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Dermata Therapeutics in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Dermata Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Dermata Therapeutics Stock Performance

The company has a market cap of $2.10 million, a price-to-earnings ratio of -0.26 and a beta of 0.53. The business has a fifty day moving average price of $3.10 and a 200 day moving average price of $5.01.

Dermata Therapeutics (NASDAQ:DRMA) last released its earnings results on Friday, November 14th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.59) by ($0.06).

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently raised its position in Dermata Therapeutics stock. Armistice Capital LLC boosted its stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) by 1,411.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,000 shares of the company’s stock after purchasing an additional 383,800 shares during the period. Armistice Capital LLC owned about 6.81% of Dermata Therapeutics worth $444,000 at the end of the most recent quarter. Institutional investors own 8.67% of the company’s stock.

Dermata Therapeutics Company Profile

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.