DermTech (NASDAQ:DMTK) Stock Rating Reaffirmed by Lake Street Capital

Lake Street Capital restated their hold rating on shares of DermTech (NASDAQ:DMTK) in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a $0.63 price target on the stock.

A number of other analysts also recently weighed in on DMTK. Stephens reissued an equal weight rating and issued a $1.50 price target on shares of DermTech in a report on Friday. BTIG Research reiterated a neutral rating on shares of DermTech in a research report on Friday.

DermTech Trading Down 7.5 %

DermTech stock opened at $0.60 on Friday. DermTech has a 1-year low of $0.59 and a 1-year high of $4.02. The firm’s fifty day simple moving average is $0.84 and its 200-day simple moving average is $1.22. The company has a market capitalization of $20.62 million, a P/E ratio of -0.19 and a beta of 2.52.

DermTech (NASDAQ:DMTK) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.02). The firm 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%. On average, equities research analysts predict that DermTech will post -2.26 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantum Private Wealth LLC lifted its holdings in DermTech by 35.4% during 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. Savant Capital LLC bought a new position in shares of DermTech during the fourth quarter worth $62,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of DermTech by 100.0% during 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 in the last quarter. Institutional investors and hedge funds 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.