Dermata Therapeutics Inc. [NASDAQ: DRMA] gained 25.40% or 0.32 points to close at $1.58 with a heavy trading volume of 4574563 shares. The company report on March 20, 2023 that Dermata Therapeutics Announces Closing of $5.0 Million Public Offering.
Dermata Therapeutics, Inc. (“Dermata,” or the “Company”) (NASDAQ:DRMA)(NASDAQ:DRMAW), a clinical-stage biotechnology company focusing on the treatment of medical and aesthetic skin conditions, today announced the closing of its previously announced public offering of 1,618,123 shares of the Company’s common stock (or pre-funded warrants in lieu thereof) and accompanying Series A warrants to purchase up to 1,618,123 shares of common stock and Series B warrants to purchase up to 1,618,123 shares of common stock at a combined offering price of $3.09 per share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrants. The Series A warrants have an exercise price of $2.82 per share, are exercisable immediately upon issuance and will expire five years following the date of issuance, and the Series B warrants have an exercise price of $2.82 per share, are exercisable immediately upon issuance and will expire twenty-eight months following the date of issuance.
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H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
It opened the trading session at $1.36, the shares rose to $1.95 and dropped to $1.34, the range by which the price of stock traded the whole day. The daily chart for DRMA points out that the company has recorded -85.37% loss over the past six months. However, it is still -61.22% lower than its most recent low trading price.
If we look at the average trading volume of 909.53K shares, DRMA reached to a volume of 4574563 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Dermata Therapeutics Inc. [DRMA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DRMA shares is $90.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DRMA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Dermata Therapeutics Inc. is set at 0.43 The Price to Book ratio for the last quarter was 0.20, with the Price to Cash per share for the same quarter was set at 7.85.
Trading performance analysis for DRMA stock
Dermata Therapeutics Inc. [DRMA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 38.60. With this latest performance, DRMA shares dropped by -28.51% in over the last four-week period, additionally sinking by -85.37% over the last 6 months – not to mention a drop of -91.50% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DRMA stock in for the last two-week period is set at 41.72, with the RSI for the last a single of trading hit 53.92, and the three-weeks RSI is set at 38.14 for Dermata Therapeutics Inc. [DRMA]. The present Moving Average for the last 50 days of trading for this stock 3.0190, while it was recorded at 1.2780 for the last single week of trading, and 7.2790 for the last 200 days.
Dermata Therapeutics Inc. [DRMA]: A deeper dive into fundamental analysis
Return on Total Capital for DRMA is now -119.96, given the latest momentum, and Return on Invested Capital for the company is -119.18. Return on Equity for this stock declined to -119.18, with Return on Assets sitting at -103.52.
Reflecting on the efficiency of the workforce at the company, Dermata Therapeutics Inc. [DRMA] managed to generate an average of -$1,201,364 per employee.Dermata Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.50 and a Current Ratio set at 7.50.
An analysis of insider ownership at Dermata Therapeutics Inc. [DRMA]
There are presently around $0 million, or 1.60% of DRMA stock, in the hands of institutional investors. The top three institutional holders of DRMA stocks are: UBS GROUP AG with ownership of 2,332, which is approximately 152.108% of the company’s market cap and around 2.00% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 1,667 shares of the stock with an approximate value of $2000.0 in DRMA stocks shares; and WELLS FARGO & COMPANY/MN, currently with $2000.0 in DRMA stock with ownership of nearly 0.066% of the company’s market capitalization.
Positions in Dermata Therapeutics Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 6 institutional holders increased their position in Dermata Therapeutics Inc. [NASDAQ:DRMA] by around 3,639 shares. Additionally, 6 investors decreased positions by around 16,139 shares, while 2 investors held positions by with 11,090 shares. The mentioned changes placed institutional holdings at 8,688 shares, according to the latest SEC report filing. DRMA stock had 4 new institutional investments in for a total of 2,231 shares, while 5 institutional investors sold positions of 16,134 shares during the same period.