DermTech (NASDAQ:DMTK) Rating Reiterated by Stephens

Stephens restated their equal weight rating on shares of DermTech (NASDAQ:DMTK) in a research note released on Friday, Benzinga reports. The firm currently has a $1.50 price objective on the stock.

Separately, BTIG Research reiterated a neutral rating on shares of DermTech in a research report on Friday.

DermTech Price Performance

DMTK stock opened at $0.64 on Friday. DermTech has a 1-year low of $0.59 and a 1-year high of $4.36. The company has a market capitalization of $22.30 million, a price-to-earnings ratio of -0.21 and a beta of 2.52. The business has a 50 day simple moving average of $0.86 and a two-hundred day simple moving average of $1.23.

DermTech (NASDAQ:DMTK) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.56) earnings per share 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. Sell-side analysts anticipate that DermTech will post -2.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in DermTech by 7.9% in the first quarter. State Street Corp now owns 3,071,055 shares of the company’s stock worth $45,083,000 after buying an additional 225,572 shares during the last quarter. Vanguard Group Inc. lifted its position in DermTech by 16.8% in the fourth quarter. Vanguard Group Inc. now owns 1,409,217 shares of the company’s stock worth $2,466,000 after buying an additional 202,920 shares during the last quarter. Millennium Management LLC lifted its position in DermTech by 2,543.4% in the second quarter. Millennium Management LLC now owns 842,284 shares of the company’s stock worth $4,666,000 after buying an additional 810,420 shares during the last quarter. BlackRock Inc. lifted its position in DermTech by 2.9% in the third quarter. BlackRock Inc. now owns 498,674 shares of the company’s stock worth $1,975,000 after buying an additional 13,982 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 buying an additional 4,541 shares during the last quarter. 20.45% of the stock is currently 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.