Lake Street Capital Reiterates “Hold” Rating for DermTech (NASDAQ:DMTK)

DermTech (NASDAQ:DMTK)‘s stock had its “hold” rating reaffirmed by analysts at Lake Street Capital in a research note issued on Friday, Benzinga reports. They presently have a $0.63 target price on the stock. Lake Street Capital’s price objective would suggest a potential upside of 2.44% from the company’s previous close.

DMTK has been the topic of several other reports. BTIG Research reiterated a “neutral” rating on shares of DermTech in a report on Friday. Stephens reiterated an “equal weight” rating and set a $1.50 target price on shares of DermTech in a report on Friday.

DermTech Stock Up 4.1 %

Shares of DermTech stock traded up $0.02 during trading on Friday, reaching $0.62. 195,296 shares of the company were exchanged, compared to its average volume of 316,624. DermTech has a twelve month low of $0.59 and a twelve month high of $4.36. The business has a 50-day moving average price of $0.87 and a 200-day moving average price of $1.24. The firm has a market capitalization of $21.29 million, a price-to-earnings ratio of -0.20 and a beta of 2.52.

DermTech (NASDAQ:DMTK) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.02). DermTech had a negative return on equity of 123.96% and a negative net margin of 659.57%. The company had revenue of $3.92 million for the quarter, compared to analyst estimates of $4.05 million. On average, equities research analysts forecast that DermTech will post -1.94 EPS for the current fiscal year.

Institutional Trading of DermTech

Institutional investors have recently modified their holdings of the company. Comerica Bank bought a new stake in shares of DermTech in the third quarter valued at about $31,000. XTX Topco Ltd acquired a new stake in shares of DermTech in the second quarter valued at about $33,000. Advisor Group Holdings Inc. increased its position in shares of DermTech by 251.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 20,090 shares of the company’s stock valued at $36,000 after acquiring an additional 14,380 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of DermTech in the fourth quarter valued at about $38,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of DermTech in the first quarter valued at about $42,000. 20.45% of the stock is currently owned by institutional investors.

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.