DermTech Inc. [DMTK] moved up 6.00: Why It’s Important

DermTech Inc. [NASDAQ: DMTK] traded at a high on 04/16/21, posting a 6.00 gain after which it closed the day’ session at $43.46. The company report on April 16, 2021 that OptumInsight Study Describes Cost Savings of DermTech’s Pigmented Lesion Assay in the Management of Melanoma.

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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 second economic study of the Pigmented Lesion Assay (“PLA”), a non-invasive genomic test that enhances early melanoma detection. The PLA increases detection of lesions at high risk for melanoma while reducing unnecessary surgical procedures relative to the existing diagnostic pathway of visual assessment and histopathology (“VAH”). OptumInsight (“Optum”) developed an actuarial model to evaluate the economic impact of inserting the PLA into the VAH pathway for pigmented skin lesions clinically suspicious of melanoma.

Using a health plan population of 10 million commercial covered lives, the findings suggest that inserting the PLA into the VAH pathway can produce aggregate savings of between $56.6 million, or $0.54 per member per month, to $81.3 million, or $0.77 per member per month, over a three year period when compared to the VAH pathway alone, assuming the Medicare reimbursed rate for the PLA of $760. This aggregate savings varies according to use in a primary care or dermatology office setting. The plan’s present value net neutral costs for using the PLA after three years of tracking the population within the plan is between $1,196 and $1,386, also according to whether the PLA is ordered in a primary care or dermatology office setting. These net neutral costs of $1,196 and $1,386 for the PLA at year three are 36% to 45% higher than the Medicare reimbursed amount for the PLA.

The results of the trading session contributed to over 1168466 shares changing hands. Over the past one week, the price volatility of DermTech Inc. stands at 7.75% while the volatility over the past one month is 9.48%.

The market cap for DMTK stock reached $1.18 billion, with 19.71 million shares outstanding and 19.60 million shares in the current float. Compared to the average trading volume of 1.52M shares, DMTK reached a trading volume of 1168466 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $64.25 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 4.72, with the Price to Sales ratio for DMTK stock in the period of the last 12 months amounting to 199.84. The Price to Book ratio for the last quarter was 13.50, with the Price to Cash per share for the same quarter was set at 2.35.

How has DMTK stock performed recently?

DermTech Inc. [DMTK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.58. With this latest performance, DMTK shares dropped by -23.32% in over the last four-week period, additionally plugging by 276.93% over the last 6 months – not to mention a rise of 251.62% 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 40.37, with the RSI for the last a single of trading hit 37.63, and the three-weeks RSI is set at 43.27 for DermTech Inc. [DMTK]. The present Moving Average for the last 50 days of trading for this stock 56.85, while it was recorded at 43.60 for the last single week of trading, and 26.80 for the last 200 days.

DermTech Inc. [DMTK]: Deeper insight into the fundamentals

DermTech Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.30 and a Current Ratio set at 12.30.

Earnings analysis for DermTech Inc. [DMTK]

With the latest financial reports released by the company, DermTech Inc. posted -0.53/share EPS, while the average EPS was predicted by analysts to be reported at -0.46/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -15.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DMTK.

Insider trade positions for DermTech Inc. [DMTK]

There are presently around $510 million, or 45.10% 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 0% of the company’s market cap and around 6.20% of the total institutional ownership; CASDIN CAPITAL, LLC, holding 1,370,000 shares of the stock with an approximate value of $59.54 million in DMTK stocks shares; and FEDERATED HERMES, INC., currently with $47.51 million in DMTK stock with ownership of nearly -10.022% of the company’s market capitalization.

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61 institutional holders increased their position in DermTech Inc. [NASDAQ:DMTK] by around 2,956,700 shares. Additionally, 22 investors decreased positions by around 1,453,171 shares, while 14 investors held positions by with 7,314,617 shares. The mentioned changes placed institutional holdings at 11,724,488 shares, according to the latest SEC report filing. DMTK stock had 42 new institutional investments in for a total of 2,718,859 shares, while 9 institutional investors sold positions of 403,289 shares during the same period.

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