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

DermTech (NASDAQ:DMTK)‘s stock had its “neutral” rating reiterated by equities research analysts at BTIG Research in a report issued on Friday, Benzinga reports.

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

DermTech Stock Performance

Shares of DermTech stock opened at $0.64 on Friday. The company has a fifty day moving average of $0.86 and a 200 day moving average of $1.23. DermTech has a fifty-two week low of $0.59 and a fifty-two week high of $4.36. The company has a market capitalization of $22.30 million, a P/E ratio of -0.21 and a beta of 2.52.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DMTK. Comerica Bank bought a new position in shares of DermTech in the 3rd quarter valued at about $31,000. XTX Topco Ltd bought a new position in shares of DermTech in the 2nd quarter valued at about $33,000. Advisor Group Holdings Inc. lifted 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 valued at $36,000 after acquiring an additional 14,380 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of DermTech in the 4th quarter valued at about $38,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of DermTech in the 1st quarter valued at about $42,000. Institutional investors own 20.45% of the company’s stock.

About DermTech

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.