DermTech Inc. (NASDAQ:DMTK) closed Thursday at $3.79 per share, up from $3.65 a day earlier. While DermTech Inc. has overperformed by 3.84%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DMTK fell by -73.35%, with highs and lows ranging from $14.28 to $1.55, whereas the simple moving average fell by -13.83% in the last 200 days.
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On July 18, 2022, Oppenheimer started tracking DermTech Inc. (NASDAQ: DMTK) recommending Outperform. A report published by BTIG Research on June 14, 2022, Reiterated its previous ‘Buy’ rating for DMTK. Stephens also rated DMTK shares as ‘Overweight’, setting a target price of $26 on the company’s shares in an initiating report dated January 07, 2022. Cowen Initiated an Outperform rating on October 15, 2021, and assigned a price target of $50. BTIG Research initiated its ‘Buy’ rating for DMTK, as published in its report on May 03, 2021. Oppenheimer’s report from January 22, 2021 suggests a price prediction of $53 for DMTK shares, giving the stock a ‘Outperform’ rating. Craig Hallum also rated the stock as ‘Buy’.
Analysis of DermTech Inc. (DMTK)
Further, the quarter-over-quarter decrease in sales is -6.30%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of DermTech Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -69.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 8.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and DMTK is recording an average volume of 706.44K. On a monthly basis, the volatility of the stock is set at 9.10%, whereas on a weekly basis, it is put at 7.56%, with a gain of 4.99% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.00, showing growth from the present price of $3.79, which can serve as yet another indication of whether DMTK is worth investing in or should be passed over.
How Do You Analyze DermTech Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 43.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DMTK shares?
The recent increase in stakes in DMTK appears to be a result of several institutional investors and hedge funds increasing their positions. RTW Investments LP’s position in DMTK has decreased by -12.84% in the first quarter. The company now owns 2,718,356 shares of the stock, with a value of $10.57 million, following the sale of -400,310 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in DMTK during the first quarter, upping its stake by 0.06%. During the last quarter, the company dropped down 588 additional shares for a total stake of worth $3.59 million, bringing number of shares owned by the company to 923,618.
During the first quarter, BlackRock Fund Advisors subtracted a -9,089 position in DMTK. Luther King Capital Management Co purchased an additional 0.11 million shares in the last quarter, increasing its holdings by 55.55%, now holding 0.3 million shares worth $1.18 million. At the end of the first quarter, Geode Capital Management LLC increased its DMTK holdings by 1.31% and now holds 0.25 million DMTK shares valued at $0.99 million with the added 3299.0 shares during the period. DMTK shares are owned by institutional investors to the tune of 43.40% at present.
