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Tamarack Advisers LP Makes New $734,000 Investment in DermTech, Inc. (NASDAQ:DMTK)

Financial News Live ·  08/23 01:51

Tamarack Advisers LP bought a new position in DermTech, Inc. (NASDAQ:DMTK – Get Rating) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 50,000 shares of the company's stock, valued at approximately $734,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Swiss National Bank boosted its stake in DermTech by 2.9% during the fourth quarter. Swiss National Bank now owns 39,100 shares of the company's stock valued at $618,000 after buying an additional 1,100 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in DermTech by 16.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,797 shares of the company's stock worth $276,000 after acquiring an additional 2,715 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in DermTech in the 4th quarter worth about $43,000. Russell Investments Group Ltd. raised its stake in shares of DermTech by 22.6% during the 1st quarter. Russell Investments Group Ltd. now owns 14,847 shares of the company's stock worth $217,000 after purchasing an additional 2,734 shares in the last quarter. Finally, Jacob Asset Management of New York LLC increased its holdings in shares of DermTech by 6.0% during the 4th quarter. Jacob Asset Management of New York LLC now owns 53,422 shares of the company's stock valued at $844,000 after acquiring an additional 3,007 shares during the last quarter. Institutional investors own 75.12% of the company's stock.

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DermTech Trading Down 2.8 %

NASDAQ:DMTK traded down $0.16 on Monday, hitting $5.55. The company's stock had a trading volume of 5,118 shares, compared to its average volume of 810,018. The stock has a fifty day moving average of $6.47 and a two-hundred day moving average of $9.33. The firm has a market capitalization of $166.72 million, a P/E ratio of -1.55 and a beta of 1.39. DermTech, Inc. has a one year low of $4.18 and a one year high of $38.97.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DMTK. Cowen cut their price objective on DermTech from $33.00 to $20.00 in a research report on Wednesday, May 4th. BTIG Research dropped their target price on DermTech from $19.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, August 15th. Lake Street Capital dropped their target price on DermTech from $34.00 to $14.00 in a report on Tuesday, August 9th. Craig Hallum dropped their target price on DermTech from $37.00 to $18.00 in a report on Tuesday, August 9th. Finally, Oppenheimer dropped their target price on DermTech from $48.00 to $23.00 and set an "outperform" rating on the stock in a report on Wednesday, August 17th.

DermTech Company Profile

(Get Rating)

DermTech, Inc, a molecular diagnostic company, develops and markets novel non-invasive genomics tests to diagnosis skin cancer, inflammatory diseases, and aging-related conditions in the United States. It offers DermTech Melanoma Test (DMT), a gene expression test that enhances early detection of genomic atypia and helps rule out melanoma and the need for a surgical biopsy of atypical pigmented lesions.

Further Reading

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Want to see what other hedge funds are holding DMTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DermTech, Inc. (NASDAQ:DMTK – Get Rating).

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