DermTech (NASDAQ:DMTK) Rating Reiterated by Stephens

DermTech (NASDAQ:DMTK)‘s stock had its “equal weight” rating reiterated by equities researchers at Stephens in a research note issued on Friday, Benzinga reports. They currently have a $1.50 price objective on the stock. Stephens’ target price would indicate a potential upside of 132.92% from the company’s current price.

Separately, BTIG Research reissued a “neutral” rating on shares of DermTech in a report on Friday.

DermTech Price Performance

NASDAQ DMTK opened at $0.64 on Friday. DermTech has a 12 month low of $0.59 and a 12 month high of $4.36. The company has a market capitalization of $22.30 million, a price-to-earnings ratio of -0.21 and a beta of 2.52. The company’s fifty day moving average price is $0.86 and its two-hundred day moving average price is $1.23.

DermTech (NASDAQ:DMTK) last posted 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). The company had revenue of $3.92 million for 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 anticipate that DermTech will post -1.94 EPS for the current year.

Institutional Trading of DermTech

A number of institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank acquired a new stake in shares of DermTech in the 3rd quarter worth about $31,000. XTX Topco Ltd acquired a new stake in shares of DermTech in the 2nd quarter worth about $33,000. Advisor Group Holdings Inc. increased its holdings in shares of DermTech by 251.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 20,090 shares of the company’s stock worth $36,000 after acquiring an additional 14,380 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of DermTech in the 4th quarter worth about $38,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of DermTech in the 1st quarter worth about $42,000. 20.45% of the stock is 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.