DermTech Inc. [DMTK] Is Currently 25.82 above its 200 Period Moving Avg: What Dose This Mean?

DermTech Inc. [NASDAQ: DMTK] closed the trading session at $66.75 on 02/11/21. The day’s price range saw the stock hit a low of $63.25, while the highest price level was $69.85. The company report on February 11, 2021 that DermTech Enters Into Agreement with Blue Cross Blue Shield of Texas.

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DermTech, Inc. (NASDAQ: DMTK) (“DermTech”), a leader in precision dermatology enabled by a non-invasive skin genomics platform, announced it has contracted, effective 2/1/2021, with Blue Cross Blue Shield of Texas (“BCBSTX”) to make DermTech’s Pigmented Lesion Assay (“PLA”) available to its approximately 6 million members in the State of Texas.

DermTech’s gene expression-based PLA for the early detection of melanoma is now available as an in-network option for Blue Cross Blue Shield of Texas’ Blue Essential, Traditional Indemnity and PPO/POS membership.

The stocks have a year to date performance of 105.76 percent and weekly performance of 35.56 percent. The stock has been moved at 432.30 percent over the last six months. The stock has performed 80.41 percent around the most recent 30 days and changed 379.53 percent over the most recent 3-months.

If compared to the average trading volume of 897.04K shares, DMTK reached to a volume of 3447348 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $47.00 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 1.60. 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.

Oppenheimer have made an estimate for DermTech Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 22, 2021. While these analysts kept the previous recommendation, Craig Hallum raised their target price to Buy. The new note on the price target was released on December 14, 2020, representing the official price target for DermTech Inc. stock.

The Average True Range (ATR) for DermTech Inc. is set at 5.92, with the Price to Sales ratio for DMTK stock in the period of the last 12 months amounting to 267.74. The Price to Book ratio for the last quarter was 24.18, with the Price to Cash per share for the same quarter was set at 2.38.

DMTK stock trade performance evaluation

DermTech Inc. [DMTK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.56. With this latest performance, DMTK shares gained by 80.41% in over the last four-week period, additionally plugging by 432.30% over the last 6 months – not to mention a rise of 392.62% 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 79.38, with the RSI for the last a single of trading hit 82.17, and the three-weeks RSI is set at 77.83 for DermTech Inc. [DMTK]. The present Moving Average for the last 50 days of trading for this stock 31.76, while it was recorded at 56.93 for the last single week of trading, and 17.22 for the last 200 days.

DermTech Inc. [DMTK]: An insightful look at the core fundamentals

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

DermTech Inc. [DMTK]: Insider Ownership positions

There are presently around $700 million, or 48.20% 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 6.70% of the total institutional ownership; CASDIN CAPITAL, LLC, holding 1,428,572 shares of the stock with an approximate value of $95.36 million in DMTK stocks shares; and FARALLON CAPITAL MANAGEMENT LLC, currently with $81.44 million in DMTK stock with ownership of nearly 526.685% of the company’s market capitalization.

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49 institutional holders increased their position in DermTech Inc. [NASDAQ:DMTK] by around 2,327,862 shares. Additionally, 18 investors decreased positions by around 1,064,326 shares, while 11 investors held positions by with 7,098,925 shares. The mentioned changes placed institutional holdings at 10,491,113 shares, according to the latest SEC report filing. DMTK stock had 30 new institutional investments in for a total of 765,986 shares, while 9 institutional investors sold positions of 789,892 shares during the same period.

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