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

Journey Medical Co. (NASDAQ:DERM) saw 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. Currently, 1.3% of the shares of the stock are short sold. Based on an average trading volume of 69,600 shares, the short-interest ratio is currently 1.6 days.

Journey Medical Price Performance

Shares of DERM traded up $0.02 during midday trading on Tuesday, hitting $5.33. The company’s stock had a trading volume of 13,141 shares, compared to its average volume of 92,159. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 1.81. Journey Medical has a one year low of $2.85 and a one year high of $6.89. The stock has a market capitalization of $111.34 million, a price-to-earnings ratio of -5.67 and a beta of 0.97. The company’s fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $5.10.

Insider Transactions at Journey Medical

In other Journey Medical news, CEO Claude Maraoui sold 18,147 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $5.13, for a total transaction of $93,094.11. Following the completion of the transaction, the chief executive officer now directly owns 2,092,874 shares in the company, valued at $10,736,443.62. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 105,831 shares of company stock valued at $536,622. Company insiders own 13.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DERM. Nwam LLC acquired a new position in Journey Medical during the 3rd quarter worth approximately $59,000. Kovitz Investment Group Partners LLC acquired a new position in shares of Journey Medical during the third quarter worth $66,000. Cetera Investment Advisers lifted its stake in shares of Journey Medical by 21.8% in the 4th quarter. Cetera Investment Advisers now owns 13,839 shares of the company’s stock valued at $54,000 after acquiring an additional 2,478 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Journey Medical during the 4th quarter valued at $80,000. Finally, Citadel Advisors LLC bought a new stake in Journey Medical during the 4th quarter worth $174,000. Institutional investors and hedge funds own 7.25% of the company’s stock.

About Journey Medical

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.