DermTech’s (DMTK) Neutral Rating Reaffirmed at BTIG Research

DermTech (NASDAQ:DMTK)‘s stock had its “neutral” rating reaffirmed by equities research analysts at BTIG Research in a report released on Friday, Benzinga reports.

Separately, Stephens dropped their target price on DermTech from $2.50 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday, March 5th.

DermTech Stock Performance

Shares of DermTech stock opened at $0.59 on Friday. The stock has a market cap of $20.46 million, a price-to-earnings ratio of -0.19 and a beta of 2.52. The stock has a 50 day moving average price of $0.87 and a 200-day moving average price of $1.24. DermTech has a one year low of $0.59 and a one year high of $4.58.

DermTech (NASDAQ:DMTK) last announced its earnings results on Thursday, February 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.02). The company had revenue of $3.92 million during the quarter, compared to analysts’ expectations of $4.05 million. DermTech had a negative return on equity of 123.96% and a negative net margin of 659.57%. Sell-side analysts predict that DermTech will post -1.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DermTech

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in shares of DermTech by 55.6% during the 1st quarter. Advisors Asset Management Inc. now owns 14,999 shares of the company’s stock worth $220,000 after acquiring an additional 5,357 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of DermTech by 86.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 189,850 shares of the company’s stock worth $2,787,000 after acquiring an additional 87,759 shares during the last quarter. State Street Corp lifted its stake in shares of DermTech by 7.9% during the 1st quarter. State Street Corp now owns 3,071,055 shares of the company’s stock worth $45,083,000 after acquiring an additional 225,572 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of DermTech during the 1st quarter worth approximately $195,000. Finally, Centaurus Financial Inc. raised its position in DermTech by 7.1% during the 1st quarter. Centaurus Financial Inc. now owns 45,046 shares of the company’s stock valued at $661,000 after purchasing an additional 2,977 shares in the last quarter. 20.45% of the stock is owned by institutional investors.

About DermTech

DermTech, Inc, a molecular diagnostic company, engages in the development and marketing of novel non-invasive genomics tests to aid in the diagnosis and management of melanoma in the United States. The company provides DermTech Melanoma Test (DMT), an innovative non-invasive way to enhance melanoma detection for developing product for non-melanoma skin cancers.