Castle Biosciences’ (CSTL) “Outperform” Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of Castle Biosciences (NASDAQ:CSTL) in a research report released on Friday, Benzinga reports. They currently have a $34.00 price target on the stock.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $17.95 on Friday. The company has a fifty day moving average of $22.85 and a 200-day moving average of $21.96. The firm has a market capitalization of $495.60 million, a P/E ratio of -15.61 and a beta of 0.93. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. Castle Biosciences has a twelve month low of $12.07 and a twelve month high of $25.91.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.28. The company had revenue of $72.97 million during the quarter, compared to analyst estimates of $68.34 million. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. As a group, sell-side analysts anticipate that Castle Biosciences will post -1.7 EPS for the current year.

Insider Activity

In related news, Director Daniel Bradbury sold 23,323 shares of Castle Biosciences stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.64, for a total value of $574,678.72. Following the completion of the sale, the director now owns 9,981 shares of the company’s stock, valued at approximately $245,931.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Derek J. Maetzold sold 1,947 shares of Castle Biosciences stock in a transaction on Friday, April 12th. The shares were sold at an average price of $20.35, for a total value of $39,621.45. Following the completion of the sale, the insider now owns 65,418 shares of the company’s stock, valued at approximately $1,331,256.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Bradbury sold 23,323 shares of Castle Biosciences stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.64, for a total transaction of $574,678.72. Following the completion of the sale, the director now directly owns 9,981 shares of the company’s stock, valued at approximately $245,931.84. The disclosure for this sale can be found here. Insiders sold 30,427 shares of company stock worth $736,715 in the last quarter. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Castle Biosciences

Hedge funds have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC boosted its holdings in Castle Biosciences by 294.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 148,030 shares of the company’s stock worth $2,500,000 after acquiring an additional 110,500 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Castle Biosciences by 27.6% during the 3rd quarter. GSA Capital Partners LLP now owns 52,195 shares of the company’s stock worth $882,000 after acquiring an additional 11,280 shares during the last quarter. Advisors Capital Management LLC boosted its holdings in Castle Biosciences by 46.9% during the 3rd quarter. Advisors Capital Management LLC now owns 116,890 shares of the company’s stock worth $1,974,000 after acquiring an additional 37,318 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Castle Biosciences by 112.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 547,403 shares of the company’s stock worth $9,246,000 after acquiring an additional 289,252 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Castle Biosciences during the 3rd quarter worth $2,885,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Castle Biosciences

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.