Dermata Therapeutics (NASDAQ:DRMA) Stock Price Down 2.5%

Dermata Therapeutics, Inc. (NASDAQ:DRMA)’s share price fell 2.5% on Wednesday . The company traded as low as $1.55 and last traded at $1.57. 26,882 shares traded hands during trading, a decline of 97% from the average session volume of 814,323 shares. The stock had previously closed at $1.61.

Analyst Ratings Changes

Separately, Maxim Group lowered their price objective on Dermata Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st.

Dermata Therapeutics Trading Up 9.0 %

The company has a market cap of $2.09 million, a price-to-earnings ratio of -0.05 and a beta of 0.77. The stock’s 50 day moving average price is $2.02 and its 200 day moving average price is $3.80.

Dermata Therapeutics (NASDAQ:DRMA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.79) by ($0.39).

Hedge Funds Weigh In On Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC bought a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,000 shares of the company’s stock, valued at approximately $67,000. Armistice Capital LLC owned 4.98% of Dermata Therapeutics at the end of the most recent quarter. 8.67% of the stock is currently owned by institutional investors and hedge funds.

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.