Dermata Therapeutics (NASDAQ:DRMA) Stock Price Up 2.4% – Time to Buy?

Dermata Therapeutics, Inc. (NASDAQ:DRMA) traded up 2.4% during trading on Wednesday . The company traded as high as $1.28 and last traded at $1.26. 27,561 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 752,987 shares. The stock had previously closed at $1.23.

Wall Street Analyst Weigh In

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

Dermata Therapeutics Stock Performance

The stock’s 50 day moving average price is $1.32 and its 200 day moving average price is $2.00. The company has a market capitalization of $2.94 million, a P/E ratio of -0.07 and a beta of 0.79.

Institutional Trading of Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Armistice Capital LLC acquired a new stake in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 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 reporting period. 8.67% of the stock is owned by hedge funds and other institutional investors.

Dermata Therapeutics Company Profile

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.