Castle Biosciences (NASDAQ:CSTL) Trading 4% Higher

Castle Biosciences, Inc. (NASDAQ:CSTL) shares shot up 4% during trading on Friday . The stock traded as high as $31.81 and last traded at $31.75. 75,136 shares changed hands during trading, a decline of 75% from the average session volume of 304,407 shares. The stock had previously closed at $30.53.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSTL. Robert W. Baird lifted their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.80.

Castle Biosciences Price Performance

The company has a market capitalization of $840.08 million, a price-to-earnings ratio of -26.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The business has a 50 day moving average price of $26.04 and a 200-day moving average price of $23.19.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The company had revenue of $87.00 million for the quarter, compared to the consensus estimate of $69.95 million. During the same period in the previous year, the business earned ($0.70) EPS. Research analysts predict that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insider Activity at Castle Biosciences

In related news, COO Kristen M. Oelschlager sold 2,793 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $22.06, for a total value of $61,613.58. Following the completion of the sale, the chief operating officer now directly owns 145,825 shares of the company’s stock, valued at approximately $3,216,899.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the sale, the director now directly owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kristen M. Oelschlager sold 2,793 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $22.06, for a total value of $61,613.58. Following the sale, the chief operating officer now directly owns 145,825 shares of the company’s stock, valued at $3,216,899.50. The disclosure for this sale can be found here. Insiders sold 33,665 shares of company stock valued at $828,222 in the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSTL. RiverPark Advisors LLC grew its holdings in shares of Castle Biosciences by 362.2% in the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after acquiring an additional 2,242 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Castle Biosciences by 21.3% in the fourth quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock valued at $102,000 after acquiring an additional 832 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Castle Biosciences by 70.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after acquiring an additional 2,187 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Castle Biosciences in the first quarter valued at approximately $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after acquiring an additional 952 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.