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Why DermTech Stock Gained 26% Last Month

TheMotleyFool

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Why DermTech Stock Gained 26% Last MonthPhoto, wide shot, wide-angle lens, Medical device manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/3a7f6312-1eee-4702-9005-93cc1e62f970.png

Shares of DermTech (NASDAQ: DMTK), a biotech company focused on skin-cancer testing, gained last month as the company continued to attract positive analyst attention and build on momentum from last December. Back then, the company announced results from a TRUST study that showed that its Pigmented Lesion Assay (PLA), its non-invasive skin-cancer test, was 99% accurate when it showed negative results.

According to data from S&P Global Market Intelligence, the stock finished January up 26%. The chart below shows the stock's trajectory for the month.