Key Points
- Insider transaction: Tobin Juvenal sold 9,050 Castle Biosciences shares at an average price of $35.04, generating $317,112. The sale was conducted under a pre-arranged Rule 10b5-1 plan and reduced the insider’s holdings by 11.91%.
- Quarterly results: Castle Biosciences reported a quarterly loss of $0.07 per share, beating the $0.41 loss expected by analysts, while revenue of $99.86 million exceeded estimates of $86.23 million.
- Market outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $42.00, compared with the stock’s reported price of $34.26. Institutional investors own 92.60% of the company.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 9,050 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $35.04, for a total transaction of $317,112.00. Following the transaction, the insider directly owned 66,914 shares of the company's stock, valued at $2,344,666.56. This trade represents a 11.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Castle Biosciences Stock Performance
NASDAQ:CSTL opened at $34.26 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of -51.91 and a beta of 0.98. The firm's 50 day moving average is $26.99 and its two-hundred day moving average is $25.42. Castle Biosciences, Inc. has a fifty-two week low of $17.72 and a fifty-two week high of $44.28. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The company had revenue of $99.86 million during the quarter, compared to analysts' expectations of $86.23 million. Analysts expect that Castle Biosciences, Inc. will post -1.29 EPS for the current year.
Hedge Funds Weigh In On Castle Biosciences
A number of hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new position in shares of Castle Biosciences during the 2nd quarter valued at $26,000. Federated Hermes Inc. purchased a new stake in Castle Biosciences during the 4th quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new stake in Castle Biosciences in the 4th quarter valued at $35,000. Jones Financial Companies Lllp increased its holdings in Castle Biosciences by 10,592.0% in the 1st 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Castle Biosciences by 26.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company's stock valued at $55,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 92.60% of the company's stock.
Analyst Ratings Changes
A number of research firms have issued reports on CSTL. Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Robert W. Baird set a $36.00 price objective on Castle Biosciences in a report on Friday, July 31st. KeyCorp set a $35.00 price objective on Castle Biosciences in a report on Friday, May 29th. Zacks Research lowered Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, BTIG Research boosted their target price on Castle Biosciences from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. One 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.00.
View Our Latest Analysis on CSTL
About Castle Biosciences
(
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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