DermTech (NASDAQ:DMTK) Stock Rating Reaffirmed by BTIG Research

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

Separately, Stephens reduced their target price on shares of DermTech from $2.50 to $1.50 and set an equal weight rating for the company in a research note on Tuesday, March 5th.

DermTech Stock Performance

DMTK stock opened at $0.64 on Friday. DermTech has a one year low of $0.59 and a one year high of $4.36. The company has a fifty day moving average of $0.86 and a 200-day moving average of $1.23.

DermTech (NASDAQ:DMTK) last released its 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 return on equity of 123.96% and a negative net margin of 659.57%. The firm had revenue of $3.92 million during the quarter, compared to analyst estimates of $4.05 million. As a group, equities analysts anticipate that DermTech will post -1.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DermTech

Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank purchased a new stake in shares of DermTech during the third quarter worth about $31,000. XTX Topco Ltd purchased a new stake in shares of DermTech during the second quarter worth about $33,000. Advisor Group Holdings Inc. grew its holdings 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 in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of DermTech during the fourth quarter worth about $38,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of DermTech during the first quarter worth about $42,000. 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.