Dermata Therapeutics (NASDAQ:DRMA) Rating Increased to Hold at Wall Street Zen

Dermata Therapeutics (NASDAQ:DRMA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Dermata Therapeutics in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.00.

Dermata Therapeutics Stock Performance

Shares of Dermata Therapeutics stock opened at $1.18 on Friday. Dermata Therapeutics has a 52-week low of $1.11 and a 52-week high of $13.20. The company has a fifty day moving average of $1.60 and a 200-day moving average of $2.82. The stock has a market capitalization of $3.35 million, a price-to-earnings ratio of -0.13 and a beta of 0.60.

Dermata Therapeutics (NASDAQ:DRMA) last issued its earnings results on Thursday, March 26th. The company reported ($1.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.54) by $0.02.

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Clear Street Group Inc. purchased a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,000 shares of the company’s stock, valued at approximately $39,000. Clear Street Group Inc. owned approximately 0.60% of Dermata Therapeutics as of its most recent SEC filing. 8.67% of the stock is currently owned by institutional investors and hedge funds.

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.