Journey Medical (NASDAQ:DERM) Shares Down 5.3% – Here’s Why

Journey Medical Co. (NASDAQ:DERM) shares fell 5.3% during trading on Tuesday . The stock traded as low as $3.99 and last traded at $4.11. 40,497 shares were traded during trading, a decline of 20% from the average session volume of 50,699 shares. The stock had previously closed at $4.34.

Journey Medical Trading Down 5.3 %

The business’s fifty day moving average is $5.11 and its two-hundred day moving average is $5.26. 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 firm has a market cap of $85.86 million, a price-to-earnings ratio of -4.37 and a beta of 1.00.

Institutional Investors Weigh In On Journey Medical

A number of institutional investors and hedge funds have recently made changes to their positions in DERM. PVG Asset Management Corp increased 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 purchasing an additional 9,005 shares during the period. Nwam LLC acquired a new stake in shares of Journey Medical during the 3rd quarter worth approximately $59,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Journey Medical during the 3rd quarter worth approximately $66,000. TMD Wealth Management LLC bought a new stake in shares of Journey Medical during the second quarter worth approximately $65,000. Finally, Geode Capital Management LLC lifted its holdings in Journey Medical by 13.5% in the third quarter. Geode Capital Management LLC now owns 108,435 shares of the company’s stock valued at $613,000 after buying an additional 12,882 shares during the period. Institutional investors 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.