Short Interest in Journey Medical Co. (NASDAQ:DERM) Grows By 14.8%

Journey Medical Co. (NASDAQ:DERM) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 76,800 shares, an increase of 14.8% from the December 31st total of 66,900 shares. Based on an average daily trading volume, of 108,900 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Nwam LLC purchased a new position in Journey Medical in the 3rd quarter valued at $59,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Journey Medical in the 3rd quarter worth $66,000. ORG Wealth Partners LLC acquired a new stake in shares of Journey Medical in the 3rd quarter worth $110,000. Geode Capital Management LLC increased its stake 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 worth $613,000 after acquiring an additional 12,882 shares during the period. Finally, PVG Asset Management Corp increased its stake 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 worth $947,000 after acquiring an additional 9,005 shares during the period. Institutional investors and hedge funds own 7.25% of the company’s stock.

Journey Medical Trading Up 14.3 %

Shares of DERM stock opened at $4.55 on Friday. Journey Medical has a 52-week low of $2.85 and a 52-week high of $6.89. The stock’s 50-day moving average price is $4.55 and its 200 day moving average price is $5.08. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.38.

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.