Dermata Therapeutics (NASDAQ:DRMA) Trading Down 0.8%

Shares of Dermata Therapeutics, Inc. (NASDAQ:DRMAGet Rating) were down 0.8% during mid-day trading on Friday . The stock traded as low as $1.26 and last traded at $1.27. Approximately 44,600 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 508,060 shares. The stock had previously closed at $1.28.

DRMA has been the topic of several research reports. Zacks Investment Research upgraded shares of Dermata Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, January 19th. Maxim Group reduced their price objective on shares of Dermata Therapeutics from $9.00 to $4.00 in a research report on Wednesday, March 30th.

The stock’s 50-day moving average price is $1.18 and its two-hundred day moving average price is $2.35.

A hedge fund recently raised its stake in Dermata Therapeutics stock. Geode Capital Management LLC grew its stake in shares of Dermata Therapeutics, Inc. (NASDAQ:DRMAGet Rating) by 68.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,666 shares of the company’s stock after acquiring an additional 10,806 shares during the period. Geode Capital Management LLC owned about 0.32% of Dermata Therapeutics worth $46,000 at the end of the most recent reporting period. Institutional investors own 3.32% of the company’s stock.

About Dermata Therapeutics (NASDAQ:DRMA)

Dermata Therapeutics, Inc, a clinical-stage biotechnology company, focuses on identifying, developing, and commercializing pharmaceutical product candidates for the treatment of medical and aesthetic skin conditions. 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.

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