DermTech, Inc. (NASDAQ:DMTK – Get Free Report)’s stock price was down 0.9% on Tuesday . The stock traded as low as $0.60 and last traded at $0.61. Approximately 48,834 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 321,284 shares. The stock had previously closed at $0.62.
Wall Street Analyst Weigh In
Separately, Stephens cut their price target on shares of DermTech from $2.50 to $1.50 and set an “equal weight” rating for the company in a report on Tuesday, March 5th.
Get Our Latest Report on DermTech
DermTech Price Performance
DermTech (NASDAQ:DMTK – Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.02). The company had revenue of $3.92 million for the quarter, compared to analysts’ expectations of $4.05 million. DermTech had a negative return on equity of 123.96% and a negative net margin of 659.57%. On average, research analysts expect that DermTech, Inc. will post -1.94 EPS for the current year.
Institutional Investors Weigh In On DermTech
A number of institutional investors and hedge funds have recently modified their holdings of DMTK. Dimensional Fund Advisors LP purchased a new stake in DermTech during the third quarter worth $70,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of DermTech in the 1st quarter worth about $63,000. ExodusPoint Capital Management LP acquired a new stake in DermTech in the 2nd quarter valued at about $61,000. Centiva Capital LP purchased a new position in DermTech during the 2nd quarter valued at about $60,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in DermTech during the first quarter worth about $42,000. 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.
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