Kevin M. Sun Sells 2,870 Shares of DermTech, Inc. (NASDAQ:DMTK) Stock

DermTech, Inc. (NASDAQ:DMTK) CFO Kevin M. Sun sold 2,870 shares of DermTech stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $43.43, for a total transaction of $124,644.10. Following the transaction, the chief financial officer now directly owns 156,411 shares of the company’s stock, valued at $6,792,929.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

DMTK stock opened at $41.38 on Friday. The company has a 50-day simple moving average of $40.43. DermTech, Inc. has a 52 week low of $9.64 and a 52 week high of $84.49. The firm has a market capitalization of $1.20 billion, a P/E ratio of -19.61 and a beta of 0.83.

DermTech (NASDAQ:DMTK) last posted its quarterly earnings data on Thursday, May 13th. The company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.02). DermTech had a negative return on equity of 38.55% and a negative net margin of 631.63%. The firm had revenue of $2.52 million for the quarter, compared to the consensus estimate of $2.00 million. On average, analysts expect that DermTech, Inc. will post -2.36 EPS for the current year.

Several equities research analysts have recently commented on the stock. Craig Hallum lifted their price target on shares of DermTech from $49.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, March 5th. Lake Street Capital upped their price target on shares of DermTech from $52.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. Zacks Investment Research downgraded shares of DermTech from a “hold” rating to a “sell” rating in a report on Thursday, May 27th. BTIG Research began coverage on shares of DermTech in a report on Monday, May 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Oppenheimer restated a “buy” rating and issued a $58.00 price target on shares of DermTech in a research note on Friday, May 14th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $53.17.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Valeo Financial Advisors LLC bought a new stake in DermTech during the first quarter worth about $29,000. Mesirow Financial Investment Management Inc. lifted its holdings in shares of DermTech by 74.8% in the first quarter. Mesirow Financial Investment Management Inc. now owns 645 shares of the company’s stock worth $33,000 after acquiring an additional 276 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of DermTech in the first quarter worth about $36,000. Turim 21 Investimentos Ltda. bought a new position in shares of DermTech in the first quarter worth about $37,000. Finally, AdvisorNet Financial Inc bought a new position in shares of DermTech in the first quarter worth about $38,000. 69.00% of the stock is owned by institutional investors and hedge funds.

DermTech Company Profile

DermTech, Inc, a molecular diagnostic company, develops and markets novel non-invasive genomics tests to diagnosis skin cancer, inflammatory diseases, and aging-related conditions in the United States. It offers Pigmented Lesion Assay (PLA), a gene expression test that helps rule out melanoma and the need for a surgical biopsy of atypical pigmented lesions.

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