Dermata Therapeutics (NASDAQ:DRMA) Shares Up 1.7%

Dermata Therapeutics, Inc. (NASDAQ:DRMA) shares shot up 1.7% during mid-day trading on Wednesday . The company traded as high as $0.34 and last traded at $0.33. 6,890 shares were traded during trading, a decline of 99% from the average session volume of 662,162 shares. The stock had previously closed at $0.33.

Dermata Therapeutics Stock Up 1.7 %

The business’s 50 day moving average price is $0.40 and its 200-day moving average price is $0.53. The company has a market cap of $2.21 million, a PE ratio of -0.09 and a beta of 0.87.

Dermata Therapeutics (NASDAQ:DRMA) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.21) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Dermata Therapeutics

A hedge fund recently bought a new stake in Dermata Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 218,000 shares of the company’s stock, valued at approximately $133,000. Armistice Capital LLC owned 6.16% of Dermata Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 8.67% of the stock is 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.