Journey Medical (NASDAQ:DERM) Trading Down 5.3% – What’s Next?

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

Journey Medical Stock Down 2.7 %

The stock has a fifty day moving average price of $5.04 and a 200-day moving average price of $5.24. The firm has a market cap of $83.56 million, a PE ratio of -4.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.38.

Institutional Investors Weigh In On Journey Medical

Several institutional investors have recently bought and sold shares of DERM. Nwam LLC acquired a new position in shares of Journey Medical during the 3rd quarter valued at $59,000. TMD Wealth Management LLC acquired a new position in shares of Journey Medical during the second quarter worth about $65,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Journey Medical in the third quarter worth about $66,000. ORG Wealth Partners LLC purchased a new stake in shares of Journey Medical in the third quarter worth about $110,000. Finally, Geode Capital Management LLC grew its stake in shares of 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 in the last quarter. 7.25% of the stock is currently owned by hedge funds and other institutional investors.

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.