Key Points
- COO Kristen Oelschlager sold 8,586 Castle Biosciences shares at an average price of $29.77, generating $255,605.22. The Rule 10b5-1 transaction reduced her direct ownership by 39.25% to 13,288 shares.
- Castle Biosciences exceeded quarterly expectations, reporting revenue of $99.86 million versus the $86.23 million consensus and a per-share loss of $0.07 versus the expected $0.41 loss. The company remains unprofitable, with analysts forecasting a full-year loss.
- Analyst sentiment remains positive: BTIG raised its price target to $44 and maintained a “buy” rating, while the broader analyst consensus is “Moderate Buy” with an average target of $42. Institutional investors and hedge funds own 92.6% of the stock.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) COO Kristen Oelschlager sold 8,586 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $29.77, for a total transaction of $255,605.22. Following the completion of the sale, the chief operating officer directly owned 13,288 shares in the company, valued at approximately $395,583.76. This represents a 39.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Castle Biosciences Stock Performance
NASDAQ:CSTL opened at $30.40 on Thursday. Castle Biosciences, Inc. has a 12 month low of $17.72 and a 12 month high of $44.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. The firm has a market capitalization of $928.72 million, a PE ratio of -46.06 and a beta of 0.98. The business's fifty day moving average price is $23.38 and its 200 day moving average price is $26.23.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.34. The company had revenue of $99.86 million for the quarter, compared to analysts' expectations of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. On average, sell-side analysts anticipate that Castle Biosciences, Inc. will post -1.29 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Castle Biosciences
A number of institutional investors have recently modified their holdings of the business. Amundi raised its position in Castle Biosciences by 15,811.5% in the 1st quarter. Amundi now owns 4,137 shares of the company's stock valued at $79,000 after purchasing an additional 4,111 shares during the last quarter. AQR Capital Management LLC grew its position in Castle Biosciences by 548.9% during the 1st quarter. AQR Capital Management LLC now owns 137,022 shares of the company's stock worth $2,743,000 after purchasing an additional 115,907 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 purchasing an additional 655 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock valued at $54,000 after purchasing an additional 2,648 shares during the period. Finally, Legal & General Group Plc increased its stake in Castle Biosciences by 34.7% in the second quarter. Legal & General Group Plc now owns 34,908 shares of the company's stock valued at $713,000 after purchasing an additional 8,992 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.
Castle Biosciences News Roundup
Here are the key news stories impacting Castle Biosciences this week:
- Positive Sentiment: BTIG raised its price target to $44 from $40 and maintained a “buy” rating. The revised target indicates substantial potential upside and reflects confidence in Castle Biosciences’ diagnostic-testing growth outlook. BTIG raises Castle Biosciences price target
- Positive Sentiment: Castle Biosciences’ latest quarterly results exceeded expectations, with revenue of $99.86 million versus the $86.23 million analyst consensus and a loss of $0.07 per share versus expectations for a $0.41 loss. The results support the case for improving operating performance, although the company remains unprofitable.
- Neutral Sentiment: Recent coverage highlighted developments involving Castle Biosciences’ diagnostics business, but the available details do not indicate whether the update will materially affect revenue, earnings or reimbursement expectations. Castle Biosciences diagnostics update
- Negative Sentiment: Multiple insiders disclosed stock sales totaling approximately $1.68 million. Derek J. Maetzold sold 28,646 shares, COO Kristen M. Oelschlager sold 8,586 shares, and Tobin W. Juvenal sold 19,040 shares in transactions conducted from July 31 through August 3. The sales reduced their holdings and may weigh on investor sentiment, particularly after the stock’s recent strength. However, all reported transactions were executed under pre-arranged Rule 10b5-1 plans, making them a less definitive bearish signal than discretionary sales. Castle Biosciences insider sales filing
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Roth Capital began coverage on shares of Castle Biosciences in a research note on Wednesday, June 24th. They set a "buy" rating and a $40.00 price target on the stock. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a research note on Friday, May 29th. BTIG Research raised their price objective on Castle Biosciences from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Monday. Zacks Research cut Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $42.00.
Check Out 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.
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