North Star Investment Management Corp. Purchases New Shares in DermTech, Inc. (NASDAQ:DMTK)


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North Star Investment Management Corp. purchased a new stake in shares of DermTech, Inc. (NASDAQ:DMTK) during the 4th quarter, HoldingsChannel reports. The firm purchased 5,000 shares of the company’s stock, valued at approximately $162,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. UBS Group AG grew its position in shares of DermTech by 25,700.0% in the second quarter. UBS Group AG now owns 2,580 shares of the company’s stock valued at $34,000 after purchasing an additional 2,570 shares during the period. Bank of America Corp DE grew its position in shares of DermTech by 28.2% in the second quarter. Bank of America Corp DE now owns 12,474 shares of the company’s stock valued at $165,000 after purchasing an additional 2,742 shares during the period. JPMorgan Chase & Co. grew its position in shares of DermTech by 60.9% in the third quarter. JPMorgan Chase & Co. now owns 10,585 shares of the company’s stock valued at $119,000 after purchasing an additional 4,006 shares during the period. American International Group Inc. acquired a new stake in shares of DermTech in the second quarter valued at about $66,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of DermTech by 38.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,223 shares of the company’s stock valued at $290,000 after purchasing an additional 6,768 shares during the period. Institutional investors own 46.72% of the company’s stock.

In other news, major shareholder Rtw Investments, Lp bought 200,000 shares of DermTech stock in a transaction on Thursday, January 7th. The shares were bought at an average cost of $29.50 per share, with a total value of $5,900,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Claudia Ibarra sold 2,421 shares of DermTech stock in a transaction dated Tuesday, December 8th. The shares were sold at an average price of $11.86, for a total transaction of $28,713.06. Following the sale, the chief operating officer now owns 115,246 shares of the company’s stock, valued at $1,366,817.56. The disclosure for this sale can be found here. Insiders have sold 22,017 shares of company stock worth $278,325 over the last ninety days. 16.48% of the stock is owned by insiders.

Several brokerages have recently issued reports on DMTK. ValuEngine lowered shares of DermTech from a “buy” rating to a “hold” rating in a research report on Friday, December 25th. BidaskClub raised shares of DermTech from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. TheStreet downgraded shares of DermTech from a “c-” rating to a “d+” rating in a research note on Thursday, December 10th. Zacks Investment Research downgraded shares of DermTech from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, William Blair assumed coverage on shares of DermTech in a research note on Thursday, October 29th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $26.50.

Shares of DMTK stock opened at $39.12 on Thursday. The firm’s 50-day moving average is $21.10 and its two-hundred day moving average is $14.26. DermTech, Inc. has a 12 month low of $8.69 and a 12 month high of $42.71. The company has a market capitalization of $766.56 million, a PE ratio of -23.15 and a beta of 0.60.

DermTech (NASDAQ:DMTK) last issued its earnings results on Tuesday, November 10th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.05. DermTech had a negative net margin of 577.75% and a negative return on equity of 65.00%. The company had revenue of $1.36 million for the quarter, compared to the consensus estimate of $1.22 million. As a group, analysts anticipate that DermTech, Inc. will post -2.13 earnings per share for the current fiscal year.

DermTech Profile

DermTech, Inc, a molecular diagnostic company, develops and markets novel non-invasive diagnostic tests to diagnosis skin cancer and related conditions in the United States. The company 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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Institutional Ownership by Quarter for DermTech (NASDAQ:DMTK)

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