Short Interest in Journey Medical Co. (NASDAQ:DERM) Increases By 20.5%

Journey Medical Co. (NASDAQ:DERM) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 113,400 shares, an increase of 20.5% from the February 13th total of 94,100 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 69,600 shares, the short-interest ratio is presently 1.6 days.

Insider Activity

In related news, CEO Claude Maraoui sold 18,147 shares of Journey Medical stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $5.13, for a total value of $93,094.11. Following the completion of the transaction, the chief executive officer now owns 2,092,874 shares in the company, valued at approximately $10,736,443.62. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 105,831 shares of company stock worth $536,622 over the last 90 days. Corporate insiders own 13.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nwam LLC purchased a new position in shares of Journey Medical during the third quarter valued at approximately $59,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Journey Medical during the third quarter valued at approximately $66,000. Geode Capital Management LLC boosted its position in shares of Journey Medical by 13.5% during the third quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock valued at $613,000 after buying an additional 12,882 shares during the period. PVG Asset Management Corp boosted its position in shares of Journey Medical by 5.7% during the third quarter. PVG Asset Management Corp now owns 167,545 shares of the company’s stock valued at $947,000 after buying an additional 9,005 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Journey Medical during the fourth quarter valued at approximately $80,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

Journey Medical Trading Up 7.1 %

DERM traded up $0.38 on Wednesday, hitting $5.71. The company had a trading volume of 54,835 shares, compared to its average volume of 92,030. The company has a market cap of $119.28 million, a PE ratio of -6.07 and a beta of 0.97. Journey Medical has a 12-month low of $2.85 and a 12-month high of $6.89. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 1.81. The business’s fifty day simple moving average is $4.74 and its 200 day simple moving average is $5.10.

Journey Medical Company Profile

Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris.