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

Dermata Therapeutics, Inc. (NASDAQ:DRMA) saw a large increase in short interest in the month of 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. Currently, 7.1% of the shares of the stock are sold short. Based on an average daily volume of 310,400 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Dermata Therapeutics

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

Dermata Therapeutics Stock Performance

Shares of DRMA stock remained flat at $1.33 during mid-day trading on Monday. The stock had a trading volume of 65,599 shares, compared to its average volume of 244,543. Dermata Therapeutics has a one year low of $1.00 and a one year high of $8.66. The stock has a market capitalization of $2.71 million, a price-to-earnings ratio of -0.08 and a beta of 0.66. The stock’s fifty day simple moving average is $1.24 and its 200-day simple moving average is $1.60.

About Dermata Therapeutics

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.