RTW Investments Trims their Activist Position in DermTech (DMTK)

Investing

Published: November 9, 2022 4:04 am

Last Updated: November 9, 2022 11:50 am

Fintel reports that RTW Investments has filed a 13D/A form with the SEC disclosing ownership of 3,018,666 shares of DermTech Inc (DMTK).

In their previous filing dated January 19, 2021 they reported 3,118,666 shares and 13.09% of the company, a decrease in shares of 3.21% and a decrease in total ownership of 13.09% (calculated as current – previous percent ownership).

RTW Investments, LP is an investment firm focused on investments in the biopharma space. Investments are made anywhere across a company’s life cycle from pre-clinical to commercial stage assets. RTW invests across the capital structure and invests in both public and private companies.

What are other large shareholders doing?

Ubs Oconnor Llc holds 2,950,000 shares representing 9.82% ownership of the company. In it’s prior filing, the firm reported owning 1,291,844 shares, representing an increase of 56.21%. The firm decreased its portfolio allocation in DMTK by 30.23% over the last quarter.

XBI – SPDR(R) S&P(R) Biotech ETF holds 2,480,450 shares representing 8.26% ownership of the company. In it’s prior filing, the firm reported owning 2,375,296 shares, representing an increase of 4.24%. The firm decreased its portfolio allocation in DMTK by 0.76% over the last quarter.

Vanguard Group Inc holds 1,246,242 shares representing 4.15% ownership of the company. In it’s prior filing, the firm reported owning 1,283,221 shares, representing a decrease of 2.97%. The firm decreased its portfolio allocation in DMTK by 90.90% over the last quarter.

Invenomic Capital Management LP holds 1,057,846 shares representing 3.52% ownership of the company. In it’s prior filing, the firm reported owning 1,083,621 shares, representing a decrease of 2.44%. The firm decreased its portfolio allocation in DMTK by 69.32% over the last quarter.

What is the overall institutional sentiment?

There are 265 funds or institutions reporting positions in DermTech Inc. This is a decrease of 15 owner(s) or 5.36%.

Average portfolio weight of all funds dedicated to DermTech Inc is 0.0528%, a decrease of 38.3325%. Total shares owned by institutions decreased in the last three months by 25.64% to 19,905,859 shares.

Based on this information, institutional sentiment is bearish.

This article originally appeared on Fintel

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