DermTech (NASDAQ:DMTK) Trading Down 0.9%

DermTech, Inc. (NASDAQ:DMTK) fell 0.9% on Tuesday . The company traded as low as $0.60 and last traded at $0.61. 48,834 shares were traded during mid-day trading, a decline of 85% from the average session volume of 321,284 shares. The stock had previously closed at $0.62.

Analyst Upgrades and Downgrades

Separately, Stephens dropped their price target on DermTech from $2.50 to $1.50 and set an “equal weight” rating on the stock in a research report on Tuesday, March 5th.

DermTech Stock Performance

The firm has a market capitalization of $20.46 million, a price-to-earnings ratio of -0.19 and a beta of 2.52. The company’s fifty day moving average price is $0.88 and its 200 day moving average price is $1.24.

DermTech (NASDAQ:DMTK) last issued its earnings results on Thursday, February 29th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.02). The company had revenue of $3.92 million during 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%. As a group, sell-side analysts expect that DermTech, Inc. will post -1.94 earnings per share for the current year.

Hedge Funds Weigh In On DermTech

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in DermTech by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 64,087 shares of the company’s stock valued at $941,000 after acquiring an additional 2,052 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DermTech by 16.9% during the first quarter. JPMorgan Chase & Co. now owns 18,797 shares of the company’s stock valued at $276,000 after purchasing an additional 2,715 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in DermTech by 7.1% in the first quarter. Centaurus Financial Inc. now owns 45,046 shares of the company’s stock worth $661,000 after purchasing an additional 2,977 shares during the period. Rhumbline Advisers grew its position in DermTech by 13.5% in the 1st quarter. Rhumbline Advisers now owns 25,571 shares of the company’s stock valued at $375,000 after buying an additional 3,036 shares in the last quarter. Finally, Swiss National Bank grew its position in DermTech by 7.9% in the 1st quarter. Swiss National Bank now owns 42,200 shares of the company’s stock valued at $619,000 after buying an additional 3,100 shares in the last quarter. Institutional investors 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.