Castle Biosciences (NASDAQ:CSTL) Trades 4% Higher

Castle Biosciences, Inc. stock price (NASDAQ:CSTL – Get Free Report ) traded up 4% during trading on Friday. The stock traded as high as $31.81 and last traded at $31.75. 75,136 shares were traded mid-day, down 75% from the session’s average volume of 304,407 shares. Shares previously closed at $30.53.

Analysts on Wall Street are forecasting an increase

CSTL has been the subject of several recent research reports. Stephens reiterated an “overweight” rating and set a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, August 6th. Robert W. Baird boosted their price objective on Castle Biosciences from $34.00 to $37.00 and gave the stock 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, Castle Biosciences presently has an average rating of “Buy” and a consensus price target of $32.80.

Get the latest report on CSTL

Castle Biosciences stock fell 0.3%

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

Castle Biosciences (NASDAQ:CSTL – Get Your Free Report ) last posted its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.47. The company had revenue of $87.00 million for the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same period last year, the company earned ($0.70) earnings per share. As a group, research analysts expect Castle Biosciences, Inc. to post -0.58 EPS for the current fiscal year.

Insider buying and selling

In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of the business’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 completion of the sale, the director now directly owns 8,550 shares in the company, valued at $227,857.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other news, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences 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 transaction, 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 Securities & Exchange Commission, which is available on the SEC’s website. Also, CFO Frank Stokes sold 10,000 shares of Castle Biosciences stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the transaction, the chief financial officer now owns 30,823 shares of the company’s stock, valued at $792,151.10. The disclosure for this sale can be found here. Insiders have sold 33,665 shares of company stock worth $828,222 over the last ninety days. 7.20% of shares are held by insiders.

Hedge funds influence Castle Biosciences

Major investors have recently made changes to their business positions. Assetmark Inc. raised its position in shares of 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 in the last quarter. Millrace Asset Group Inc. raised its position in shares of Castle Biosciences by 2.1% during the fourth quarter. Millrace Asset Group Inc. now owns 78,914 shares of the company’s stock valued at $1,703,000 after acquiring an additional 1,599 shares in the last quarter. Olympiad Research LP bought a new stake in shares of Castle Biosciences in the fourth quarter valued at about $263,000. Intrinsic Edge Capital Management LLC increased its position in shares of Castle Biosciences by 108.8% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock valued at $7,041,000 after purchasing an additional 170,000 shares in the last quarter. Finally, Bellevue Group AG grew its position in shares of Castle Biosciences by 0.4% during the fourth quarter. Bellevue Group AG now owns 1,232,378 shares of the company’s stock valued at $26,595,000 after acquiring an additional 4,347 shares in the last quarter. 92.60% of the shares are currently held by hedge funds and other institutional investors.

Castle Biosciences Company Profile

(Get a free report)

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatological cancers, Barrett’s esophagus, uveal melanoma and mental health conditions. 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 GEP risk stratification 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 the future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic dysplasia, indeterminate dysplasia, or low-grade dysplasia Barrett’s esophagus.

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