DermTech (NASDAQ:DMTK) Given “Equal Weight” Rating at Stephens

Stephens reissued their equal weight rating on shares of DermTech (NASDAQ:DMTK) in a report issued on Friday morning, Benzinga reports. Stephens currently has a $1.50 price objective on the stock.

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

DermTech Trading Down 7.5 %

Shares of DMTK stock opened at $0.60 on Friday. DermTech has a 12-month low of $0.59 and a 12-month high of $4.02. The business’s fifty day simple moving average is $0.84 and its 200-day simple moving average is $1.22. The company has a market cap of $20.62 million, a PE ratio of -0.19 and a beta of 2.52.

DermTech (NASDAQ:DMTK) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.02). The company had revenue of $3.92 million for the quarter, compared to analyst estimates 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 analysts forecast that DermTech will post -2.26 earnings per share for the current year.

Institutional Investors Weigh In On DermTech

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quantum Private Wealth LLC increased its position in shares of DermTech by 35.4% in the fourth quarter. Quantum Private Wealth LLC now owns 33,045 shares of the company’s stock valued at $58,000 after buying an additional 8,634 shares in the last quarter. Savant Capital LLC purchased a new stake in DermTech during the 4th quarter valued at about $62,000. Finally, Texas Capital Bank Wealth Management Services Inc grew its position in shares of DermTech by 100.0% in the fourth 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.

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.