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

Journey Medical Co. (NASDAQ:DERM) saw a significant growth in short interest during 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. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 69,600 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity at Journey Medical

In other Journey Medical news, CEO Claude Maraoui sold 18,147 shares of the stock in a transaction dated 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 owns 2,092,874 shares in the company, valued at $10,736,443.62. This trade represents 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 through this link. Over the last three months, insiders sold 105,831 shares of company stock valued at $536,622. 13.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Journey Medical

A number of hedge funds and other institutional investors have recently modified their holdings of DERM. Tang Capital Management LLC bought a new position in shares of Journey Medical in the 4th quarter worth approximately $6,747,000. Cetera Investment Advisers lifted its holdings 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 valued at $54,000 after buying an additional 2,478 shares during the period. Citadel Advisors LLC bought a new position in shares of Journey Medical during the 4th quarter valued at $174,000. Kovitz Investment Group Partners LLC raised its holdings in Journey Medical by 112.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 24,710 shares of the company’s stock worth $97,000 after purchasing an additional 13,105 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in Journey Medical in the 4th quarter worth $80,000. Institutional investors own 7.25% of the company’s stock.

Journey Medical Price Performance

Journey Medical stock traded up $0.38 during midday trading on Wednesday, hitting $5.71. 54,835 shares of the company’s stock were exchanged, compared to its average volume of 92,030. Journey Medical has a 52-week low of $2.85 and a 52-week high of $6.89. The stock has a 50-day moving average price of $4.74 and a two-hundred day moving average price 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. The company has a market cap of $119.28 million, a P/E ratio of -6.07 and a beta of 0.97.

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.