DermTech (NASDAQ:DMTK) Stock Rating Reaffirmed by BTIG Research

BTIG Research reiterated their neutral rating on shares of DermTech (NASDAQ:DMTK) in a research note released on Friday, Benzinga reports.

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

DermTech Stock Performance

Shares of DMTK stock opened at $0.60 on Friday. DermTech has a 52 week low of $0.59 and a 52 week high of $4.02. The stock’s fifty day moving average is $0.84 and its 200-day moving average is $1.22. The stock has a market capitalization of $20.62 million, a PE ratio of -0.19 and a beta of 2.52.

DermTech (NASDAQ:DMTK) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.02). The business had revenue of $3.92 million during the quarter, compared to the consensus estimate of $4.05 million. DermTech had a negative net margin of 659.57% and a negative return on equity of 123.96%. As a group, analysts forecast that DermTech will post -2.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DermTech

Several institutional investors have recently made changes to their positions in DMTK. Texas Capital Bank Wealth Management Services Inc lifted its position in DermTech by 100.0% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 120,000 shares of the company’s stock worth $210,000 after purchasing an additional 60,000 shares during the period. Savant Capital LLC acquired a new stake in shares of DermTech during the 4th quarter worth approximately $62,000. Finally, Quantum Private Wealth LLC increased its stake in DermTech by 35.4% in the fourth quarter. Quantum Private Wealth LLC now owns 33,045 shares of the company’s stock valued at $58,000 after acquiring an additional 8,634 shares during the last quarter. 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.