Castle Biosciences (NASDAQ:CSTL) Trading 2% Higher

Castle Biosciences, Inc. (NASDAQ:CSTL)’s stock price shot up 2% on Tuesday . The company traded as high as $29.60 and last traded at $29.43. 18,909 shares changed hands during trading, a decline of 94% from the average session volume of 302,053 shares. The stock had previously closed at $28.85.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stephens reissued an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. Robert W. Baird boosted their price objective on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $32.80.

Castle Biosciences Stock Up 2.0 %

The firm’s 50 day simple moving average is $22.64 and its 200 day simple moving average is $22.40. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. The company has a market cap of $812.75 million, a price-to-earnings ratio of -25.63 and a beta of 0.93.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. 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 firm posted ($0.70) earnings per share. Sell-side analysts anticipate that Castle Biosciences, Inc. will post -1.66 EPS for the current fiscal year.

Insider Activity at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,883 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 in the company, valued at $227,857.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Frank Stokes sold 10,000 shares of Castle Biosciences stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the chief financial officer now owns 30,823 shares of the company’s stock, valued at approximately $792,151.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was 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 directly owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,033 shares of company stock valued at $883,633. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in Castle Biosciences by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock valued at $220,000 after buying an additional 675 shares during the last quarter. Assetmark Inc. boosted its holdings in Castle Biosciences by 21.3% during 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 purchasing an additional 952 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Castle Biosciences by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock worth $400,000 after purchasing an additional 1,131 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Castle Biosciences by 20.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,192 shares of the company’s stock worth $177,000 after purchasing an additional 1,395 shares during the last quarter. Institutional investors 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.