Key Points
- Insider sale: Tobin Juvenal sold 3,306 Castle Biosciences shares for approximately $106,850 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 5.07% to 61,878 shares.
- Quarterly performance: Castle Biosciences reported a quarterly loss of $0.07 per share, outperforming the expected loss of $0.41, while revenue of $99.86 million exceeded estimates of $86.23 million.
- Investor and analyst sentiment: Institutional investors own 92.6% of the company, and analysts maintain a “Moderate Buy” consensus with an average price target of $42, above the reported share price of $35.48.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 3,306 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $32.32, for a total transaction of $106,849.92. Following the sale, the insider directly owned 61,878 shares in the company, valued at $1,999,896.96. This trade represents a 5.07% decrease in their ownership of the stock. 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 Down 0.1%
Shares of Castle Biosciences stock opened at $35.48 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The stock has a market capitalization of $1.08 billion, a PE ratio of -53.76 and a beta of 0.99. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-week high of $44.28. The company has a 50-day simple moving average of $29.79 and a two-hundred day simple moving average of $25.57.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $99.86 million for the quarter, compared to analysts' expectations of $86.23 million. On average, analysts anticipate that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.
Institutional Trading of Castle Biosciences
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Castle Biosciences in the second quarter worth about $78,513,000. Summit Partners Public Asset Management LLC grew its stake in shares of Castle Biosciences by 164.7% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company's stock valued at $41,184,000 after acquiring an additional 658,725 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Castle Biosciences during the 2nd quarter valued at approximately $15,440,000. Renaissance Technologies LLC increased its holdings in Castle Biosciences by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 532,800 shares of the company's stock worth $13,080,000 after acquiring an additional 39,700 shares in the last quarter. Finally, AIGH Capital Management LLC bought a new stake in Castle Biosciences during the 2nd quarter worth approximately $13,001,000. Hedge funds and other institutional investors own 92.60% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on the company. Zacks Research downgraded Castle Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Robert W. Baird set a $36.00 price objective on Castle Biosciences in a report on Friday, July 31st. Weiss Ratings raised Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 31st. KeyCorp set a $35.00 target price on shares of Castle Biosciences in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded shares of Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $42.00.
Read Our Latest Research Report on Castle Biosciences
About Castle Biosciences
(
Get Free Report)
Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.
The company's portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.
Read More
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].
