DermTech (NASDAQ:DMTK – Get Free Report)‘s stock had its “equal weight” rating reissued by analysts at Stephens in a report issued on Friday, Benzinga reports. They currently have a $1.50 price objective on the stock. Stephens’ price target indicates a potential upside of 145.50% from the company’s previous close.
Separately, BTIG Research reaffirmed a “neutral” rating on shares of DermTech in a research report on Friday.
Get Our Latest Stock Analysis on DermTech
DermTech Stock Up 3.4 %
DermTech (NASDAQ:DMTK – Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.02). The business had revenue of $3.92 million during the quarter, compared to the consensus estimate 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 forecast that DermTech will post -1.94 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of DMTK. Comerica Bank bought a new position in shares of DermTech in the 3rd quarter valued at about $31,000. XTX Topco Ltd acquired a new position in DermTech in the 2nd quarter valued at about $33,000. Advisor Group Holdings Inc. grew its stake in DermTech by 251.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 20,090 shares of the company’s stock valued at $36,000 after buying an additional 14,380 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in DermTech in the 4th quarter valued at about $38,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in DermTech in the 1st quarter valued at about $42,000. Institutional investors own 20.45% of the company’s stock.
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.
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