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

Journey Medical Co. (NASDAQ:DERM) was the target of a large increase in short interest in the month of 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. Based on an average daily trading volume, of 69,600 shares, the short-interest ratio is presently 1.6 days. Currently, 1.3% of the company’s shares are sold short.

Insider Buying and Selling

In other news, CEO Claude Maraoui sold 49,271 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $5.01, for a total transaction of $246,847.71. Following the completion of the transaction, the chief executive officer now owns 2,003,147 shares of the company’s stock, valued at approximately $10,035,766.47. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 105,831 shares of company stock worth $536,622 in the last ninety days. Company insiders own 13.16% of the company’s stock.

Institutional Investors Weigh In On Journey Medical

A number of institutional investors have recently made changes to their positions in DERM. Nwam LLC acquired a new position in shares of Journey Medical in the third quarter worth approximately $59,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Journey Medical in the 3rd quarter worth approximately $66,000. Geode Capital Management LLC lifted its position in shares of Journey Medical by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock worth $613,000 after purchasing an additional 12,882 shares during the period. PVG Asset Management Corp boosted its stake in shares of Journey Medical by 5.7% in the 3rd quarter. PVG Asset Management Corp now owns 167,545 shares of the company’s stock valued at $947,000 after purchasing an additional 9,005 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Journey Medical during the fourth quarter worth $80,000. Institutional investors own 7.25% of the company’s stock.

Journey Medical Trading Up 0.4 %

NASDAQ DERM traded up $0.02 on Tuesday, reaching $5.33. The company had a trading volume of 13,141 shares, compared to its average volume of 92,159. The firm has a market cap of $111.34 million, a price-to-earnings ratio of -5.67 and a beta of 0.97. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.38 and a quick ratio of 1.03. Journey Medical has a fifty-two week low of $2.85 and a fifty-two week high of $6.89. The business has a 50 day moving average of $4.74 and a two-hundred day moving average of $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.