Journey Medical Co. (NASDAQ:DERM) Short Interest Update

Journey Medical Co. (NASDAQ:DERM) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 113,400 shares, a growth of 20.5% from the February 13th total of 94,100 shares. Based on an average trading volume of 69,600 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.3% of the company’s stock are sold short.

Journey Medical Price Performance

Shares of DERM opened at $5.75 on Thursday. Journey Medical has a fifty-two week low of $2.85 and a fifty-two week high of $6.89. The company has a market capitalization of $120.12 million, a price-to-earnings ratio of -6.12 and a beta of 0.97. The firm has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $5.10. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.38.

Insider Transactions at Journey Medical

In related news, CEO Claude Maraoui sold 49,271 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $5.01, for a total value of $246,847.71. Following the transaction, the chief executive officer now owns 2,003,147 shares of the company’s stock, valued at $10,035,766.47. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 105,831 shares of company stock valued at $536,622. 13.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Journey Medical

A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its position in shares of Journey Medical by 21.8% during the 4th quarter. Cetera Investment Advisers now owns 13,839 shares of the company’s stock worth $54,000 after purchasing an additional 2,478 shares during the last quarter. Nwam LLC purchased a new stake in shares of Journey Medical during the 3rd quarter valued at $59,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Journey Medical during the 3rd quarter valued at $66,000. Dimensional Fund Advisors LP purchased a new stake in Journey Medical during the 4th quarter worth $80,000. Finally, Citadel Advisors LLC purchased a new stake in Journey Medical during the 4th quarter worth $174,000. Hedge funds and other institutional investors own 7.25% of the company’s stock.

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.