DermTech’s (DMTK) Neutral Rating Reiterated at BTIG Research

BTIG Research reissued their neutral rating on shares of DermTech (NASDAQ:DMTK) in a research note issued to investors on Friday morning, Benzinga reports.

Separately, Stephens lowered their price target 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 Down 7.5 %

Shares of NASDAQ DMTK opened at $0.60 on Friday. The firm has a 50-day simple moving average of $0.84 and a 200-day simple moving average of $1.22. The stock has a market capitalization of $20.62 million, a price-to-earnings ratio of -0.19 and a beta of 2.52. DermTech has a 52 week low of $0.59 and a 52 week high of $4.02.

DermTech (NASDAQ:DMTK) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $4.05 million. As a group, equities research analysts expect that DermTech will post -2.26 EPS for the current year.

Institutional Investors Weigh In On DermTech

Hedge funds and other institutional investors have recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of DermTech by 100.0% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 120,000 shares of the company’s stock valued at $210,000 after purchasing an additional 60,000 shares during the last quarter. Savant Capital LLC acquired a new position in shares of DermTech during the fourth quarter worth $62,000. Finally, Quantum Private Wealth LLC lifted its holdings in DermTech by 35.4% in the 4th quarter. Quantum Private Wealth LLC now owns 33,045 shares of the company’s stock worth $58,000 after buying an additional 8,634 shares in the last quarter. 20.45% of the stock is currently owned by hedge funds and other institutional investors.

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.