Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Significant Growth in Short Interest

Posted by Doug Wharley on Jan 20th, 2025

Dermata Therapeutics, Inc. (NASDAQ:DRMA – Get Free Report) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 142,900 shares, a growth of 11.3% from the December 15th total of 128,400 shares. Based on an average daily volume of 310,400 shares, the days-to-cover ratio is currently 0.5 days. Currently, 7.1% of the shares of the stock are short sold.

Dermata Therapeutics Stock Performance

DRMA stock remained flat at $1.33 on Monday. 65,599 shares of the company traded hands, compared to its average volume of 244,543. The firm has a market cap of $2.71 million, a PE ratio of -0.08 and a beta of 0.66. Dermata Therapeutics has a fifty-two week low of $1.00 and a fifty-two week high of $8.66. The stock’s fifty day moving average is $1.24 and its two-hundred day moving average is $1.60.

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 – Free Report) 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. 8.67% of the stock is currently owned by hedge funds and other institutional investors.

About Dermata Therapeutics

(Get Free Report)

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.