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DermTech Inc. (DMTK) 2023 Stock Forecast: Bullish Outlook with 57.69% Upside

DermTech Inc. (NASDAQ: DMTK) is 210.73% higher on its value in year-to-date trading and has touched a low of $1.55 and a high of $16.33 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The DMTK stock was last observed hovering at around $5.59 in the last trading session, with the day’s loss setting it -0.09% off its average median price target of $7.00 for the next 12 months. It is also 57.69% off the consensus price target high of $13.00 offered by 7 analysts, but current levels are 8.33% higher than the price target low of $6.00 for the same period.

Currently trading at $5.50, the stock is 83.67% and 112.04% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.42 million and changing -1.61% at the moment leaves the stock 2.58% off its SMA200. DMTK registered -54.47% loss for a year compared to 6-month loss of -27.63%.

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The stock witnessed a 202.20% gain in the last 1 month and extending the period to 3 months gives it a 75.16%, and is 3.00% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 25.11% over the week and 18.60% over the month.

DermTech Inc. (DMTK) has around 255 employees, a market worth around $159.50M and $14.70M in sales. Distance from 52-week low is 254.84% and -66.32% from its 52-week high. The company has generated returns on investments over the last 12 months (-33.70%).

DermTech Inc. (DMTK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for DermTech Inc. (DMTK) is a “Buy”. 7 analysts offering their recommendations for the stock have an average rating of 1.70, where 1 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

The EPS is expected to shrink by -26.20% this year.

DermTech Inc. (DMTK) Top Institutional Holders

The shares outstanding are 30.10M, and float is at 27.75M with Short Float at 9.20%.

DermTech Inc. (DMTK) Insider Activity

A total of 0 insider transactions have happened at DermTech Inc. (DMTK) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider sale by Ibarra Claudia,the company’sChief Operating Officer. SEC filings show that Ibarra Claudia sold 328 shares of the company’s common stock on Dec 12 at a price of $2.22 per share for a total of $728.0. Following the sale, the insider now owns 0.16 million shares.

DermTech Inc. disclosed in a document filed with the SEC on Dec 12 that Wood Todd Michael (Chief Commercial Officer) sold a total of 356 shares of the company’s common stock. The trade occurred on Dec 12 and was made at $2.22 per share for $790.0. Following the transaction, the insider now directly holds 0.21 million shares of the DMTK stock.

Still, SEC filings show that on Dec 08, Ibarra Claudia (Chief Operating Officer) disposed off 2,496 shares at an average price of $2.32 for $5791.0. The insider now directly holds 158,150 shares of DermTech Inc. (DMTK).

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