Dermata Therapeutics (NASDAQ:DRMA) Trading 1.2% Higher – Still a Buy?

Dermata Therapeutics, Inc. (NASDAQ:DRMA)’s share price was up 1.2% during trading on Thursday . The company traded as high as $1.41 and last traded at $1.36. Approximately 298,686 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 760,423 shares. The stock had previously closed at $1.34.

Dermata Therapeutics Price Performance

The business has a 50-day simple moving average of $1.25 and a 200 day simple moving average of $1.74. The firm has a market cap of $2.71 million, a PE ratio of -0.08 and a beta of 0.79.

Institutional Trading of Dermata Therapeutics

An institutional investor recently bought a new position in Dermata Therapeutics stock. Armistice Capital LLC bought a new position in Dermata Therapeutics, Inc. (NASDAQ:DRMA) during the second quarter, according to its most recent 13F filing with the SEC. The fund 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. Hedge funds and other institutional investors own 8.67% of the company’s stock.

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.