Dermata Therapeutics (NASDAQ:DRMA) Shares Down 0.7% – Time to Sell?

Dermata Therapeutics, Inc. (NASDAQ:DRMA) traded down 0.7% during trading on Wednesday . The company traded as low as $1.3412 and last traded at $1.40. 47,076 shares traded hands during trading, a decline of 47% from the average session volume of 88,979 shares. The stock had previously closed at $1.41.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DRMA shares. Wall Street Zen raised shares of Dermata Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings raised shares of Dermata Therapeutics from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Dermata Therapeutics Trading Down 0.7%

The company has a market cap of $5.63 million, a price-to-earnings ratio of -0.26 and a beta of 0.67. The business has a fifty day moving average of $1.26 and a two-hundred day moving average of $1.52.

Dermata Therapeutics (NASDAQ:DRMA) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.05.

Hedge Funds Weigh In On Dermata Therapeutics

A hedge fund recently bought a new position in Dermata Therapeutics stock. Clear Street Group Inc. acquired a new position in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned 0.60% of Dermata Therapeutics as of its most recent filing with the Securities & Exchange Commission. 8.67% of the stock is owned by hedge funds and other institutional investors.

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.