BTIG Research restated their neutral rating on shares of DermTech (NASDAQ:DMTK – Free Report) in a research report sent to investors on Friday morning, Benzinga reports.
Separately, Stephens dropped their price target on DermTech from $2.50 to $1.50 and set an equal weight rating on the stock in a research note on Tuesday, March 5th.
Read Our Latest Research Report on DMTK
DermTech Stock Up 9.0 %
DermTech (NASDAQ:DMTK – Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.92 million during the quarter, compared to the consensus estimate of $4.05 million. On average, sell-side analysts expect that DermTech will post -2.26 EPS for the current year.
Institutional Investors Weigh In On DermTech
A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its position in shares of DermTech by 7.9% during the first quarter. State Street Corp now owns 3,071,055 shares of the company’s stock worth $45,083,000 after acquiring an additional 225,572 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of DermTech by 16.8% during the 4th quarter. Vanguard Group Inc. now owns 1,409,217 shares of the company’s stock valued at $2,466,000 after purchasing an additional 202,920 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of DermTech by 2,543.4% during the 2nd quarter. Millennium Management LLC now owns 842,284 shares of the company’s stock valued at $4,666,000 after purchasing an additional 810,420 shares during the last quarter. BlackRock Inc. grew its position in shares of DermTech by 2.9% during the third quarter. BlackRock Inc. now owns 498,674 shares of the company’s stock valued at $1,975,000 after purchasing an additional 13,982 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of DermTech by 1.8% in the second quarter. Geode Capital Management LLC now owns 260,760 shares of the company’s stock worth $678,000 after purchasing an additional 4,541 shares during the last quarter. 20.45% of the stock is owned by 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.
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