Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Expands By 11.3%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 142,900 shares, an increase of 11.3% from the December 15th total of 128,400 shares. Based on an average trading volume of 310,400 shares, the days-to-cover ratio is currently 0.5 days. Approximately 7.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

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 the company in its most recent 13F filing with the SEC. The fund purchased 28,000 shares of the company’s stock, valued at approximately $67,000. Armistice Capital LLC owned approximately 4.98% of Dermata Therapeutics as of its most recent SEC filing. 8.67% of the stock is owned by institutional investors and hedge funds.

Dermata Therapeutics Stock Performance

Shares of NASDAQ:DRMA remained flat at $1.33 during trading on Friday. 65,599 shares of the stock traded hands, compared to its average volume of 244,543. The business’s 50-day simple moving average is $1.24 and its two-hundred day simple moving average is $1.60. Dermata Therapeutics has a 52-week low of $1.00 and a 52-week high of $8.66. The stock has a market capitalization of $2.71 million, a P/E ratio of -0.08 and a beta of 0.66.

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.