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

DermTech (NASDAQ:DMTK)‘s stock had its “neutral” rating reissued by 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 on the stock in a research report on Tuesday, March 5th.

DermTech Price Performance

Shares of DMTK stock opened at $0.59 on Friday. The stock has a market capitalization of $20.46 million, a PE ratio of -0.19 and a beta of 2.52. DermTech has a 52-week low of $0.59 and a 52-week high of $4.58. The stock’s 50-day moving average price is $0.87 and its 200 day moving average price is $1.24.

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

Institutional Investors Weigh In On DermTech

Several institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in DermTech by 55.6% in the 1st quarter. Advisors Asset Management Inc. now owns 14,999 shares of the company’s stock valued at $220,000 after buying an additional 5,357 shares in 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 purchasing an additional 87,759 shares during the period. 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 purchasing an additional 225,572 shares during the period. Engineers Gate Manager LP purchased a new position in shares of DermTech during the 1st quarter worth $195,000. Finally, Centaurus Financial Inc. lifted its stake in shares of DermTech by 7.1% during the 1st quarter. Centaurus Financial Inc. now owns 45,046 shares of the company’s stock worth $661,000 after purchasing an additional 2,977 shares during the period. Hedge funds and other institutional investors own 20.45% of the company’s stock.

DermTech Company Profile

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.