Lake Street Capital Reiterates “Hold” Rating for DermTech (NASDAQ:DMTK)

DermTech (NASDAQ:DMTK)‘s stock had its “hold” rating reaffirmed by stock analysts at Lake Street Capital in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $0.63 target price on the stock. Lake Street Capital’s target price would indicate a potential upside of 2.44% from the stock’s current price.

DMTK has been the subject of a number of other research reports. Stephens reaffirmed an “equal weight” rating and set a $1.50 target price on shares of DermTech in a research note on Friday. BTIG Research restated a “neutral” rating on shares of DermTech in a research note on Friday.

DermTech Price Performance

DMTK traded up $0.02 on Friday, hitting $0.62. The company had a trading volume of 195,296 shares, compared to its average volume of 316,624. DermTech has a 52-week low of $0.59 and a 52-week high of $4.36. The stock has a fifty day simple moving average of $0.87 and a 200-day simple moving average of $1.24. The firm has a market capitalization of $21.29 million, a P/E ratio of -0.20 and a beta of 2.52.

DermTech (NASDAQ:DMTK) last issued 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 return on equity of 123.96% and a negative net margin of 659.57%. The company had revenue of $3.92 million during the quarter, compared to analysts’ expectations of $4.05 million. Equities research analysts expect that DermTech will post -1.94 earnings per share for the current fiscal year.

Institutional Trading of DermTech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in DermTech by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 1,409,217 shares of the company’s stock valued at $2,466,000 after buying an additional 202,920 shares during the period. Virtu Financial LLC acquired a new stake in DermTech during the fourth quarter valued at $97,000. Northern Trust Corp grew its position in DermTech by 17.2% during the fourth quarter. Northern Trust Corp now owns 77,490 shares of the company’s stock valued at $136,000 after buying an additional 11,390 shares during the period. Stifel Financial Corp grew its position in DermTech by 26.0% during the fourth quarter. Stifel Financial Corp now owns 102,043 shares of the company’s stock valued at $179,000 after buying an additional 21,083 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc grew 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 valued at $210,000 after buying an additional 60,000 shares during the period. Institutional investors and hedge funds own 20.45% of the company’s stock.

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.