The Potential Rise in the Price of DermTech Inc. (DMTK) following insiders activity


DermTech Inc.’s recently made public that its Chief Operating Officer Ibarra Claudia unloaded Company’s shares for reported $728.0 on Dec 12. In the deal valued at $2.22 per share,328 shares were sold. As a result of this transaction, Ibarra Claudia now holds 157,822 shares worth roughly $ 0.76 million.

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Then, Wood Todd Michael sold 356 shares, generating $790 in total proceeds. Upon selling the shares at $2.22, the Chief Commercial Officer now owns 214,110 shares.

Before that, Ibarra Claudia sold 2,496 shares. DermTech Inc. shares valued at $5,791 were divested by the Chief Operating Officer at a price of $2.32 per share. As a result of the transaction, Ibarra Claudia now holds 158,150 shares, worth roughly $0.76 million.

PT values the company’s stock at a premium of 90.0 to its Friday closing price. A number of analysts have revised their coverage, including BTIG Research’s analysts, who remained covering the stock and in mid June has reiterated a ‘”a Buy”‘ rating for it. Stephens began covering DMTK with “an Overweight” recommendation on January 07, 2022.

Price Performance Review of DMTK

On Friday, DermTech Inc. [NASDAQ:DMTK] saw its stock jump 11.37% to $4.80. On the same session, the stock had its day’s lowest price of $3.965, but rose to a high of $4.9999. Over the last five days, the stock has gained 125.35%. DermTech Inc. shares have risen nearly 171.19% since the year began. Nevertheless, the stocks have fallen -66.85% over the past one year. While a 52-week high of $16.33 was reached on 01/13/23, a 52-week low of $1.55 was recorded on 01/03/23. SMA at 50 days reached $2.35, while 200 days put it at $5.62. A total of 2.2 million shares were traded, compared to the trading of 1.99 million shares in the previous session.

Levels Of Support And Resistance For DMTK Stock

The 24-hour chart illustrates a support level at 4.18, which if violated will result in even more drops to 3.55. On the upside, there is a resistance level at 5.21. A further resistance level may holdings at 5.62. The Relative Strength Index (RSI) on the 14-day chart is 85.73, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.63, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.79%. Stochastics %K at 91.69% indicates the stock is a selling.

How much short interest is there in DermTech Inc.?

A steep rise in short interest was recorded in DermTech Inc. stocks on Oct 13, 2022, dropping by 50000.0 shares to a total of 2.84 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 2.89 million shares. There was a decline of -1.76%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.37% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.71.

DermTech Inc. [DMTK] – Who Are The Largest Shareholders?

In filings from RTW Investments LP, it is revealed that the company now owns 3,118,666 shares, or roughly 10.32% of the outstanding DMTK shares. Additionally, UBS O’Connor LLC decreased -52.09% of its stake after which the total value it holdings stand at $2,501,601, while The Vanguard Group, Inc. reduced -24.82% of its stake to hold $1.63 million in the firm. Over the last quarter, Millennium Management LLC sold -115,539 shares of DermTech Inc., while Aegon Asset Management UK PLC sold 20,615 shares. At present, BlackRock Fund Advisors is holding 475,671 shares valued at $0.84 million. Avalon Advisors LLC owned 369,504 shares of the company at the time of its most recent 13F filing, worth $0.65 million.

According to FactSet, DermTech Inc.’s share price will average $7.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 39.21 percent from its previous closing price of $4.31. Analysts expect DermTech Inc. stock to reach the higher price of $13.00, while the lowest price estimate is $5.00. However, 7 analysts have rated DMTK stock as a Buy in their predictions for 2023. The most recent change occurred on May 03, 2021 when BTIG Research began covering the stock and recommended ‘”a Buy”‘ rating along with a $53 price target.


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