DermTech’s (DMTK) “Equal Weight” Rating Reiterated at Stephens

Stephens reissued their equal weight rating on shares of DermTech (NASDAQ:DMTK) in a research report report published on Friday morning, Benzinga reports. Stephens currently has a $1.50 price target on the stock.

Separately, BTIG Research restated a neutral rating on shares of DermTech in a research note on Friday.

DermTech Stock Performance

Shares of DermTech stock opened at $0.64 on Friday. The business has a 50-day moving average of $0.86 and a 200-day moving average of $1.23. DermTech has a 1-year low of $0.59 and a 1-year high of $4.36.

DermTech (NASDAQ:DMTK) last announced its earnings results on Thursday, February 29th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.02). The business had revenue of $3.92 million for 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, analysts predict that DermTech will post -1.94 EPS for the current fiscal year.

Hedge Funds Weigh In On DermTech

Several large investors have recently modified their holdings of DMTK. Comerica Bank bought a new position in DermTech in the third quarter worth about $31,000. XTX Topco Ltd acquired a new position in shares of DermTech during the second quarter worth approximately $33,000. Advisor Group Holdings Inc. boosted its position in shares of DermTech by 251.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 20,090 shares of the company’s stock worth $36,000 after buying an additional 14,380 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of DermTech during the fourth quarter worth approximately $38,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in DermTech in the first quarter worth approximately $42,000. Institutional investors 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.