DermTech (NASDAQ:DMTK) Receives Hold Rating from Lake Street Capital

Lake Street Capital reissued their hold rating on shares of DermTech (NASDAQ:DMTK) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $0.63 price target on the stock.

Several other brokerages have also weighed in on DMTK. Stephens reissued an equal weight rating and set a $1.50 price objective on shares of DermTech in a report on Friday. BTIG Research reissued a neutral rating on shares of DermTech in a report on Friday.

DermTech Stock Up 9.0 %

DMTK stock opened at $0.64 on Friday. The business has a 50 day moving average of $0.86 and a 200-day moving average of $1.23. DermTech has a 12-month low of $0.59 and a 12-month high of $4.36.

DermTech (NASDAQ:DMTK) last released its earnings results 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 net margin of 659.57% and a negative return on equity of 123.96%. The business had revenue of $3.92 million during the quarter, compared to the consensus estimate of $4.05 million. As a group, analysts expect that DermTech will post -1.94 EPS for the current year.

Institutional Investors Weigh In On DermTech

Several institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in shares of DermTech by 7.9% during the first quarter. State Street Corp now owns 3,071,055 shares of the company’s stock worth $45,083,000 after acquiring an additional 225,572 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of DermTech by 16.8% during the fourth quarter. Vanguard Group Inc. now owns 1,409,217 shares of the company’s stock worth $2,466,000 after acquiring an additional 202,920 shares in the last quarter. Millennium Management LLC lifted its position in shares of DermTech by 2,543.4% during the second quarter. Millennium Management LLC now owns 842,284 shares of the company’s stock worth $4,666,000 after acquiring an additional 810,420 shares in the last quarter. BlackRock Inc. lifted its position in shares of DermTech by 2.9% during the third quarter. BlackRock Inc. now owns 498,674 shares of the company’s stock worth $1,975,000 after acquiring an additional 13,982 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of DermTech by 1.8% during the second quarter. Geode Capital Management LLC now owns 260,760 shares of the company’s stock worth $678,000 after acquiring an additional 4,541 shares in the last quarter. Hedge funds and other 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.