Short Interest in Dermata Therapeutics, Inc. (NASDAQ:DRMA) Drops By 20.0%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 20,400 shares, a decline of 20.0% from the May 31st total of 25,500 shares. Based on an average daily trading volume, of 31,300 shares, the days-to-cover ratio is presently 0.7 days. Currently, 4.9% of the company’s stock are sold short.

Dermata Therapeutics Trading Down 4.2 %

Shares of DRMA stock opened at $2.29 on Tuesday. The stock’s fifty day simple moving average is $3.83 and its 200-day simple moving average is $5.88. Dermata Therapeutics has a 1-year low of $2.10 and a 1-year high of $26.55. The company has a market capitalization of $1.01 million, a price-to-earnings ratio of -0.08 and a beta of 0.75.

Dermata Therapeutics (NASDAQ:DRMA) last issued its earnings results on Wednesday, May 15th. The company reported ($7.05) EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Dermata Therapeutics stock. Acadian Asset Management LLC raised its position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) by 34.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,538 shares of the company’s stock after purchasing an additional 19,253 shares during the quarter. Acadian Asset Management LLC owned approximately 2.37% of Dermata Therapeutics worth $79,000 at the end of the most recent quarter. 8.67% of the stock is owned by institutional investors.

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.