DermTech’s (DMTK) Equal Weight Rating Reiterated at Stephens

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

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

DermTech Price Performance

DermTech stock opened at $0.60 on Friday. The firm’s 50 day simple moving average is $0.84 and its 200-day simple moving average is $1.22. DermTech has a fifty-two week low of $0.59 and a fifty-two week high of $4.02. The company has a market cap of $20.62 million, a P/E ratio of -0.19 and a beta of 2.52.

DermTech (NASDAQ:DMTK) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.56) earnings per share (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 analysts’ expectations of $4.05 million. On average, analysts expect that DermTech will post -2.26 EPS for the current fiscal year.

Hedge Funds Weigh In On DermTech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc lifted its stake 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 worth $210,000 after buying an additional 60,000 shares during the last quarter. Savant Capital LLC bought a new position in DermTech in the 4th quarter worth $62,000. Finally, Quantum Private Wealth LLC lifted its position 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 acquiring an additional 8,634 shares during 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.