DermTech (NASDAQ:DMTK) Trading Down 0.9%

DermTech, Inc. (NASDAQ:DMTK) shares were down 0.9% on Tuesday . The stock traded as low as $0.60 and last traded at $0.61. Approximately 48,834 shares were traded 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.

Analyst Upgrades and Downgrades

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

DermTech Trading Down 0.9 %

The company’s 50 day moving average price is $0.89 and its 200-day moving average price is $1.25. The company has a market capitalization of $21.27 million, a PE ratio of -0.20 and a beta of 2.52.

DermTech (NASDAQ:DMTK) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.05 million. As a group, analysts predict that DermTech, Inc. will post -1.94 earnings per share for the current year.

Institutional Trading of DermTech

A number of institutional investors have recently added to or reduced their stakes in DMTK. Comerica Bank acquired a new position in DermTech in the 3rd quarter worth $31,000. XTX Topco Ltd acquired a new position in DermTech in the 2nd quarter worth $33,000. Advisor Group Holdings Inc. lifted its holdings in DermTech by 251.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 20,090 shares of the company’s stock worth $36,000 after buying an additional 14,380 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in DermTech in the 4th quarter worth $38,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in DermTech in the 1st quarter worth $42,000. 20.45% of the stock is owned by hedge funds and other institutional investors.

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.