DermTech (NASDAQ:DMTK) Trading Down 0.9%

DermTech, Inc. (NASDAQ:DMTK) dropped 0.9% on Tuesday . The company traded as low as $0.60 and last traded at $0.61. Approximately 48,834 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 321,284 shares. The stock had previously closed at $0.62.

Wall Street Analysts Forecast Growth

Separately, Stephens lowered their target price on shares of DermTech from $2.50 to $1.50 and set an “equal weight” rating on the stock in a research note on Tuesday, March 5th.

DermTech Stock Down 0.9 %

The stock has a market capitalization of $21.27 million, a price-to-earnings ratio of -0.20 and a beta of 2.52. The stock’s 50-day simple moving average is $0.89 and its 200 day simple moving average is $1.25.

DermTech (NASDAQ:DMTK) last released its quarterly 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 firm 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%. As a group, equities research analysts anticipate that DermTech, Inc. will post -1.94 earnings per share for the current year.

Hedge Funds Weigh In On DermTech

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of DermTech by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 64,087 shares of the company’s stock worth $941,000 after acquiring an additional 2,052 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in DermTech by 16.9% during the first quarter. JPMorgan Chase & Co. now owns 18,797 shares of the company’s stock worth $276,000 after purchasing an additional 2,715 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in DermTech by 7.1% during the first 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 last quarter. Rhumbline Advisers boosted its holdings in DermTech by 13.5% during the first quarter. Rhumbline Advisers now owns 25,571 shares of the company’s stock worth $375,000 after purchasing an additional 3,036 shares during the last quarter. Finally, Swiss National Bank lifted its stake in DermTech by 7.9% in the first quarter. Swiss National Bank now owns 42,200 shares of the company’s stock valued at $619,000 after acquiring an additional 3,100 shares during the last quarter. 20.45% of the stock is currently owned by institutional investors and hedge funds.

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.