Castle Biosciences (NASDAQ:CSTL) Trading 4% Higher

Castle Biosciences, Inc. (NASDAQ:CSTL)’s share price 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 during mid-day trading, a decline of 75% from the average session volume of 304,407 shares. The stock had previously closed at $30.53.

Wall Street Analysts Forecast Growth

CSTL has been the topic of several recent research reports. Stephens restated 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 increased 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.

Castle Biosciences Stock Down 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 capitalization 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) 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 firm earned ($0.70) earnings per share. As a group, research analysts expect that Castle Biosciences, Inc. will 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 firm’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 document filed with the Securities & Exchange Commission, which is accessible through 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 document filed with the Securities & Exchange Commission, which is available through the SEC 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 valued at $828,222 over the last ninety days. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Castle Biosciences

Large investors have recently made changes to their positions in the business. Assetmark Inc. increased 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. increased 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 during the fourth quarter valued at approximately $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 acquiring an additional 170,000 shares in the last quarter. Finally, Bellevue Group AG increased 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 stock is currently owned by hedge funds and other institutional investors.

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.