Journey Medical Co. (NASDAQ:DERM) Sees Significant Increase in Short Interest

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

Journey Medical Price Performance

Shares of DERM stock traded down $0.13 during trading on Friday, hitting $3.66. The company had a trading volume of 51,888 shares, compared to its average volume of 55,888. Journey Medical has a 52 week low of $2.85 and a 52 week high of $6.89. The stock has a market capitalization of $76.46 million, a price-to-earnings ratio of -3.89 and a beta of 1.00. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 1.81. The stock’s 50-day moving average is $4.79 and its two-hundred day moving average is $5.18.

Institutional Trading of Journey Medical

Several institutional investors and hedge funds have recently made changes to their positions in DERM. PVG Asset Management Corp grew its position in Journey Medical by 5.7% in 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 in the last quarter. Geode Capital Management LLC boosted its holdings 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 in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Journey Medical during the 3rd quarter valued at about $110,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Journey Medical during the 3rd quarter valued at about $66,000. Finally, Nwam LLC purchased a new stake in Journey Medical in the third quarter worth approximately $59,000. 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.