DermTech Inc. (NASDAQ: DMTK) In 2022: Will It Be Worth Investing In?

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In the last trading session, 1.08 million shares of the DermTech Inc. (NASDAQ:DMTK) were traded, and its beta was 1.33. Most recently the company’s share price was $5.09, and it changed around $0.29 or 6.04% from the last close, which brings the market valuation of the company to $139.36M. DMTK currently trades at a discount to its 52-week high of $48.32, offering almost -849.31% off that amount. The share price’s 52-week low was $4.18, which indicates that the current value has risen by an impressive 17.88% since then. We note from DermTech Inc.’s average daily trading volume that its 3-month average coming to 888.56K.

DermTech Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.40. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended DMTK as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. DermTech Inc. is expected to report earnings per share of -$1 for the current quarter.

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Instantly DMTK has showed a green trend with a performance of 6.04% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.24 on Tuesday, 06/21/22 increased the stock’s daily price by 2.86%. The company’s shares are currently down -67.78% year-to-date, but still up 7.61% over the last five days. On the other hand, DermTech Inc. (NASDAQ:DMTK) is -25.04% up in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $29.67, which translates to bulls needing to increase their stock price by 82.84% from its current value. Analyst projections state that DMTK is forecast to be at a low of $19.00 and a high of $48.00. In order for the stock price to hit the forecast high, the stock would need to plunge -843.03% from its current level, while the stock would need to crash -273.28% from its current level to reach the projected low.

DermTech Inc. (DMTK) estimates and forecasts

DermTech Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -73.05 percent over the past six months and at a -49.45% annual growth rate that is well below the industry average of -0.20%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -69.50% in revenue this quarter, and will report a decrease of -50.00% in the next quarter. The year-over-year growth rate is expected to be 101.60%, up from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $4.8 million in revenue for the current quarter. 6 analysts expect DermTech Inc. to make $6.69 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $3.12 million and $3.41 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 53.90%. Forecasts for the next quarter put sales growth at 96.20%.

DMTK Dividends

DermTech Inc.’s next quarterly earnings report is expected to be released around March 02 and March 07.

DermTech Inc. (NASDAQ:DMTK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 7.78% of DermTech Inc. shares, and 77.73% of them are in the hands of institutional investors. The stock currently has a share float of 84.28%. DermTech Inc. stock is held by 203 institutions, with RTW Investments LP being the largest institutional investor. By Dec 30, 2021, it held 10.42% of the shares, which is about 3.12 million shares worth $49.27 million.

State Street Corporation, with 9.50% or 2.85 million shares worth $44.96 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Northern Lights Fd Tr II-Invenomic Fd were the top two Mutual Funds as of Jan 30, 2022. The former held 2.67 million shares worth $34.16 million, making up 8.91% of all outstanding shares. On the other hand, Northern Lights Fd Tr II-Invenomic Fd held roughly 0.69 million shares worth around $8.83 million, which represents about 2.30% of the total shares outstanding.