Key Points
- Insider sale: Director Derek Maetzold sold 1,339 shares on Dec. 4 at an average of $40.03 for about $53,600, leaving him with 37,547 shares (a 3.44% reduction in his position).
- Castle Biosciences beat expectations last quarter with EPS of ($0.02) versus a ($0.34) consensus and revenue of $80.55M vs. $71.06M, and the shares trade near their 52‑week high (market cap ~$1.11B, PE -84.67).
- Analysts have a consensus rating of Moderate Buy with an average price target of $37.43, and institutional investors hold roughly 92.6% of the stock.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Derek Maetzold sold 1,339 shares of the company's stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $40.03, for a total transaction of $53,600.17. Following the transaction, the insider directly owned 37,547 shares of the company's stock, valued at $1,503,006.41. This represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Castle Biosciences Stock Down 1.4%
Shares of NASDAQ CSTL opened at $38.10 on Tuesday. Castle Biosciences, Inc. has a 52-week low of $14.59 and a 52-week high of $40.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.31 and a current ratio of 6.47. The business has a fifty day moving average of $29.97 and a two-hundred day moving average of $23.28. The stock has a market cap of $1.11 billion, a PE ratio of -84.67 and a beta of 1.14.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its earnings results on Monday, November 3rd. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.32. The business had revenue of $80.55 million for the quarter, compared to the consensus estimate of $71.06 million. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%. As a group, equities research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Castle Biosciences
Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of Castle Biosciences by 0.5% during the third quarter. Franklin Resources Inc. now owns 99,787 shares of the company's stock worth $2,272,000 after purchasing an additional 540 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Castle Biosciences by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company's stock worth $309,000 after buying an additional 655 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Castle Biosciences by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 70,478 shares of the company's stock worth $1,439,000 after acquiring an additional 707 shares in the last quarter. Inspire Investing LLC lifted its holdings in Castle Biosciences by 4.0% during the third quarter. Inspire Investing LLC now owns 19,887 shares of the company's stock worth $453,000 after acquiring an additional 770 shares in the last quarter. Finally, CWM LLC grew its stake in Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company's stock valued at $44,000 after acquiring an additional 853 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently weighed in on CSTL shares. Zacks Research upgraded Castle Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 20th. BTIG Research raised their price objective on shares of Castle Biosciences from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, November 4th. Canaccord Genuity Group reiterated a "buy" rating and set a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, September 9th. Robert W. Baird raised their price target on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Castle Biosciences in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.43.
Read Our Latest Report on CSTL
About Castle Biosciences
(
Get Free Report)
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.
Further Reading
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