Key Points
- CFO Frank Stokes sold 7,000 shares on March 3 at an average price of $27.44 for $192,080, reducing his stake by 11.77% to 52,483 shares valued at about $1.44 million (SEC filing disclosed).
- Castle Biosciences shares traded around $27.64 with a market cap of $821.7M, a negative P/E, and recent quarterly results that beat EPS and revenue estimates despite a negative net margin.
- Institutional ownership is high (92.60%) as several hedge funds added or increased positions recently, while analysts are mixed but the consensus is a "Moderate Buy" with an average price target of $47.57.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) CFO Frank Stokes sold 7,000 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $27.44, for a total value of $192,080.00. Following the transaction, the chief financial officer owned 52,483 shares of the company's stock, valued at $1,440,133.52. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Castle Biosciences Price Performance
Castle Biosciences stock traded down $0.27 during mid-day trading on Friday, hitting $27.64. 56,560 shares of the company were exchanged, compared to its average volume of 436,104. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.26 and a quick ratio of 5.11. The company has a market capitalization of $821.74 million, a P/E ratio of -32.52 and a beta of 1.09. Castle Biosciences, Inc. has a 12-month low of $14.59 and a 12-month high of $44.28. The business's 50 day simple moving average is $36.17 and its two-hundred day simple moving average is $31.36.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.15. The company had revenue of $81.88 million for the quarter, compared to analysts' expectations of $81.19 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. Analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Castle Biosciences
Several hedge funds have recently modified their holdings of the stock. RTW Investments LP purchased a new position in Castle Biosciences in the 4th quarter worth approximately $82,283,000. AIGH Capital Management LLC purchased a new position in shares of Castle Biosciences in the third quarter valued at $16,105,000. Summit Partners Public Asset Management LLC boosted its stake in shares of Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company's stock valued at $41,184,000 after purchasing an additional 658,725 shares during the period. Braidwell LP grew its holdings in Castle Biosciences by 125.3% during the 2nd quarter. Braidwell LP now owns 822,735 shares of the company's stock valued at $16,800,000 after purchasing an additional 457,488 shares in the last quarter. Finally, Eventide Asset Management LLC purchased a new stake in Castle Biosciences during the 4th quarter worth $11,864,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CSTL. Lake Street Capital raised their price target on Castle Biosciences from $35.00 to $52.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Robert W. Baird increased their price objective on shares of Castle Biosciences from $41.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Castle Biosciences in a research report on Monday, December 29th. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $37.00 to $50.00 and gave the company a "buy" rating in a report on Monday, December 22nd. Finally, Morgan Stanley upgraded Castle Biosciences to a "buy" rating in a report on Monday. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $47.57.
View Our Latest Stock Analysis on CSTL
Castle Biosciences Company Profile
(
Get Free Report)
Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company's proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.
The company's flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
