A Look at DermTech Inc. (DMTK) Shares in the Recent Past Indicates Growth

DermTech Inc. (NASDAQ: DMTK) stock jumped 23.67% on Monday to $5.59 against a previous-day closing price of $4.52. With 1.5 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.76 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $5.62 whereas the lowest price it dropped to was $4.56. The 52-week range on DMTK shows that it touched its highest point at $16.33 and its lowest point at $1.55 during that stretch. It currently has a 1-year price target of $7.67. Beta for the stock currently stands at 1.63.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DMTK was up-trending over the past week, with a rise of 16.46%, but this was up by 203.80% over a month. Three-month performance surged to 75.79% while six-month performance fell -22.79%. The stock lost -57.33% in the past year, while it has gained 215.82% so far this year. A look at the trailing 12-month EPS for DMTK yields -3.83 with Next year EPS estimates of -3.70. For the next quarter, that number is -0.96. This implies an EPS growth rate of -26.20% for this year and 5.60% for next year.

Float and Shares Shorts:

At present, 30.10 million DMTK shares are outstanding with a float of 27.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.84 million, which was 9.45% higher than short shares on Sep 14, 2022. In addition to Dr. John D. Dobak M.D. as the firm’s Pres, CEO & Director, Mr. Kevin Sun M.B.A. serves as its CFO, Treasurer & Sec.

Institutional Ownership:

Through their ownership of 60.09% of DMTK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.62% of DMTK, in contrast to 35.32% held by mutual funds. Shares owned by individuals account for 30.44%. As the largest shareholder in DMTK with 9.99% of the stake, RTW Investments LP holds 3,018,666 shares worth 3,018,666. A second-largest stockholder of DMTK, UBS O’Connor LLC, holds 1,413,334 shares, controlling over 4.68% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in DMTK, holding 923,030 shares or 3.06% stake. With a 1.77% stake in DMTK, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 534,767 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.17% of DMTK stock, is the second-largest Mutual Fund holder. It holds 353,129 shares valued at 0.63 million. Fidelity Extended Market Index Fu holds 0.47% of the stake in DMTK, owning 141,945 shares worth 0.25 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DMTK since 7 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DMTK analysts setting a high price target of $13.00 and a low target of $6.00, the average target price over the next 12 months is $7.83. Based on these targets, DMTK could surge 132.56% to reach the target high and rise by 7.33% to reach the target low. Reaching the average price target will result in a growth of 40.07% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DMTK will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$3.87 being high and -$3.98 being low. For DMTK, this leads to a yearly average estimate of -$3.92. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. DermTech Inc. surprised analysts by $0.03 when it reported -$0.96 EPS against a consensus estimate of -$0.99. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.92 and the low estimate is -$1.03. The average estimate for the next quarter is thus -$0.96.

Summary of Insider Activity:

Insiders traded DMTK stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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