DermTech (NASDAQ:DMTK) Shares Down 0.9%

DermTech, Inc. (NASDAQ:DMTK)’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.

DermTech Price Performance

The stock has a fifty day moving average of $0.88 and a two-hundred day moving average of $1.24. The stock has a market cap of $20.46 million, a price-to-earnings ratio of -0.19 and a beta of 2.52.

DermTech (NASDAQ:DMTK) 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.