DermTech Inc. [DMTK] gain 66.61% so far this year. What now?

DermTech Inc. [NASDAQ: DMTK] gained 19.77% or 3.41 points to close at $20.66 with a heavy trading volume of 1001990 shares. The company report on December 18, 2020 that DermTech Announces Topline Results of its TRUST Study: Results Confirm the High Negative Predictive Value of the PLA at 99% and Find No Significant Adverse Outcomes After Long-Term Follow-Up of PLA Negative Tests.

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DermTech, Inc. (NASDAQ: DMTK) (“DermTech”), a leader in precision dermatology enabled by a non-invasive skin genomics platform, announced the topline results from its TRUST Study of the company’s non-invasive melanoma rule-out test, the Pigmented Lesion Assay (the “PLA”). The TRUST study is a long-term follow-up study of pigmented skin lesions that tested negative for melanoma with the PLA. It was designed to assess long-term outcomes of PLA negative tests and to further confirm the 99% negative predictive value (“NPV”) of the PLA. Specifically, the study protocol called for reevaluating and retesting lesions that were PLA negative 12 to 24 months prior to each subject’s enrollment in the TRUST Study in order to determine the proportion of true negative lesions among those that tested negative. The PLA enhances early melanoma detection by assessing atypical pigmented lesions (lesions suspicious for melanoma) to help rule out melanoma and the need for surgical evaluation. The PLA detects LINC 518 (long intergenic non-protein coding RNA 518) and PRAME (preferentially expressed antigen in melanoma) as a 2-panel gene expression assay.

The TRUST Study was conducted at five geographically distinct clinical sites in the U.S. that consistently use the PLA to help manage atypical pigmented lesions in their clinical practice. A long-term follow-up cohort of 1,781 lesions with PLA negative tests in a 12 to 24 month period prior to the study’s start were identified and the subjects with such lesions were solicited to return for repeat PLA testing on the same lesion. A total of 302 lesions were evaluated by means of repeat testing with the PLA, meeting the study protocol’s pre-specified enrollment target.

It opened the trading session at $18.04, the shares rose to $21.26 and dropped to $17.70, the range by which the price of stock traded the whole day. The daily chart for DMTK points out that the company has recorded 38.84% gains over the past six months. However, it is still -137.74% lower than its most recent low trading price.

If we look at the average trading volume of 194.91K shares, DMTK reached to a volume of 1001990 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about DermTech Inc. [DMTK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DMTK shares is $21.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DMTK stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for DermTech Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2020. The new note on the price target was released on October 30, 2020, representing the official price target for DermTech Inc. stock.

The Average True Range (ATR) for DermTech Inc. is set at 1.42, with the Price to Sales ratio for DMTK stock in the period of the last 12 months amounting to 69.21. The Price to Book ratio for the last quarter was 7.49, with the Price to Cash per share for the same quarter was set at 2.85.

Trading performance analysis for DMTK stock

DermTech Inc. [DMTK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 51.69. With this latest performance, DMTK shares gained by 62.04% in over the last four-week period, additionally plugging by 38.84% over the last 6 months – not to mention a rise of 66.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DMTK stock in for the last two-week period is set at 84.94, with the RSI for the last a single of trading hit 90.58, and the three-weeks RSI is set at 79.96 for DermTech Inc. [DMTK]. The present Moving Average for the last 50 days of trading for this stock 12.88, while it was recorded at 16.24 for the last single week of trading, and 12.32 for the last 200 days.

DermTech Inc. [DMTK]: A deeper dive into fundamental analysis

DermTech Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.30 and a Current Ratio set at 13.30.

An analysis of insider ownership at DermTech Inc. [DMTK]

There are presently around $174 million, or 57.60% of DMTK stock, in the hands of institutional investors. The top three institutional holders of DMTK stocks are: RTW INVESTMENTS, LP with ownership of 2,887,215, which is approximately 1.101% of the company’s market cap and around 8.80% of the total institutional ownership; CASDIN CAPITAL, LLC, holding 1,428,572 shares of the stock with an approximate value of $29.51 million in DMTK stocks shares; and FARALLON CAPITAL MANAGEMENT LLC, currently with $25.2 million in DMTK stock with ownership of nearly 526.685% of the company’s market capitalization.

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24 institutional holders increased their position in DermTech Inc. [NASDAQ:DMTK] by around 1,911,692 shares. Additionally, 18 investors decreased positions by around 972,778 shares, while 14 investors held positions by with 7,175,551 shares. The mentioned changes placed institutional holdings at 10,060,021 shares, according to the latest SEC report filing. DMTK stock had 9 new institutional investments in for a total of 230,330 shares, while 8 institutional investors sold positions of 842,116 shares during the same period.

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