Castle Biosciences (NASDAQ:CSTL) Stock Price Down 3.8% – Time to Sell?

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) traded down 3.8% during trading on Friday . The company traded as low as $33.21 and last traded at $33.35. 147,315 shares traded hands during trading, a decline of 53% from the average session volume of 314,184 shares. The stock had previously closed at $34.67.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BTIG Research boosted their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Canaccord Genuity Group boosted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Castle Biosciences has an average rating of “Buy” and a consensus price target of $35.14.

Castle Biosciences Stock Down 2.7 %

The stock’s fifty day moving average is $30.50 and its two-hundred day moving average is $25.30. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $931.84 million, a PE ratio of -247.64 and a beta of 1.03.

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

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, CFO Frank Stokes sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the sale, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at $792,151.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Castle Biosciences news, CFO Frank Stokes sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the sale, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at $792,151.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,694 shares of company stock valued at $820,497 over the last three months. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. RiverPark Advisors LLC increased its position in shares of 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 during the period. US Bancorp DE increased its position in shares of Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after purchasing an additional 4,383 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $215,000 after purchasing an additional 952 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Castle Biosciences in the second quarter worth approximately $218,000. 92.60% of the stock is currently owned by institutional investors.

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.