Dermata Therapeutics, Inc. (NASDAQ:DRMA) Sees Large Increase in Short Interest

Dermata Therapeutics, Inc. (NASDAQ:DRMA) was the recipient of a significant increase in short interest during 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. Based on an average daily volume of 310,400 shares, the short-interest ratio is presently 0.5 days. Approximately 7.1% of the shares of the company are sold short.

Dermata Therapeutics Price Performance

Shares of NASDAQ:DRMA remained flat at $1.33 during trading on Monday. 65,599 shares of the company were exchanged, compared to its average volume of 244,543. The company’s 50 day moving average is $1.24 and its 200 day moving average is $1.60. Dermata Therapeutics has a twelve month low of $1.00 and a twelve month high of $8.66. The stock has a market cap of $2.71 million, a PE ratio of -0.08 and a beta of 0.66.

Institutional Trading of Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC purchased a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 8.67% of the company’s stock.

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.