DermTech, Inc. (NASDAQ:DMTK) CFO Sells $17,717.40 in Stock

DermTech, Inc. (NASDAQ:DMTK) CFO Kevin M. Sun sold 9,180 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $1.93, for a total transaction of $17,717.40. Following the transaction, the chief financial officer now owns 283,361 shares of the company’s stock, valued at approximately $546,886.73. The transaction was disclosed in a document filed with the SEC, which is available at this link.

DermTech Stock Performance

Shares of DMTK stock opened at $1.94 on Friday. DermTech, Inc. has a 12 month low of $1.55 and a 12 month high of $6.44. The business’s 50 day moving average is $2.68 and its two-hundred day moving average is $3.00.

DermTech (NASDAQ:DMTK) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.04). DermTech had a negative net margin of 853.02% and a negative return on equity of 99.14%. The company had revenue of $3.98 million for the quarter, compared to analyst estimates of $3.55 million. As a group, research analysts forecast that DermTech, Inc. will post -3.56 EPS for the current year.

Hedge Funds Weigh In On DermTech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DMTK. XTX Topco Ltd acquired a new stake in shares of DermTech in the second quarter worth $33,000. Advisor Group Holdings Inc. boosted its stake in DermTech by 251.8% during the fourth 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 stake in DermTech during the fourth quarter worth $38,000. Charles Schwab Investment Management Inc. acquired a new stake in DermTech during the first quarter worth $42,000. Finally, Kovack Advisors Inc. acquired a new stake in DermTech during the first quarter worth $43,000. Institutional investors and hedge funds own 27.81% of the company’s stock.

Analysts Set New Price Targets

Separately, BTIG Research reduced their price objective on shares of DermTech from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, August 7th.

DermTech Company Profile

DermTech, Inc, a molecular diagnostic company, develops and markets novel non-invasive genomics tests to aid in the diagnosis and management of various skin conditions, including skin cancer and inflammatory diseases 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.