Castle Biosciences (NASDAQ:CSTL) Trading Down 2.1%

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) fell 2.1% during trading on Wednesday . The company traded as low as $30.59 and last traded at $30.59. 14,173 shares changed hands during trading, a decline of 95% from the average session volume of 302,703 shares. The stock had previously closed at $31.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird lifted their target price on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences has a consensus rating of “Buy” and a consensus target price of $32.80.

Castle Biosciences Stock Down 1.4 %

The firm has a 50-day simple moving average of $25.54 and a 200 day simple moving average of $23.09. The company has a market capitalization of $850.30 million, a PE ratio of -27.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate 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 business had revenue of $87.00 million for the quarter, compared to the consensus estimate of $69.95 million. During the same period last year, the business posted ($0.70) EPS. On average, research analysts predict that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Castle Biosciences

Large investors have recently modified their holdings of the stock. RiverPark Advisors LLC raised its stake in Castle Biosciences by 362.2% during the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after buying an additional 2,242 shares in the last quarter. Assetmark Inc. boosted its holdings in Castle Biosciences by 21.3% in the fourth quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock worth $102,000 after purchasing an additional 832 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Castle Biosciences by 70.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after purchasing an additional 2,187 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of Castle Biosciences during the first quarter worth $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after buying an additional 952 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

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.