Key Points
- Insider sale: Tobin Juvenal sold 5,543 Castle Biosciences shares for approximately $196,777 under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 9.46% to 53,041 shares.
- Quarterly performance: Castle Biosciences reported a quarterly loss of $0.07 per share, outperforming the $0.41 consensus loss, while revenue of $99.86 million exceeded estimates of $86.23 million.
- Market view: Analysts maintain a “Moderate Buy” consensus with an average price target of $42.00, while institutional investors and hedge funds own 92.6% of the company’s shares.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 1,034 shares of the firm's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $34.20, for a total value of $35,362.80. Following the completion of the transaction, the insider directly owned 52,007 shares in the company, valued at $1,778,639.40. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Castle Biosciences Trading Down 0.8%
Castle Biosciences stock opened at $35.26 on Friday. The business has a 50-day simple moving average of $32.27 and a two-hundred day simple moving average of $26.21. Castle Biosciences, Inc. has a 52-week low of $17.72 and a 52-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. The company has a market cap of $1.08 billion, a P/E ratio of -53.42 and a beta of 0.94.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) 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 the consensus estimate of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. Analysts predict 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. BlackRock Inc. bought a new stake in Castle Biosciences during the 2nd quarter valued at approximately $78,513,000. Summit Partners Public Asset Management LLC grew its holdings in 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 buying an additional 658,725 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Castle Biosciences during the 2nd quarter valued at approximately $15,440,000. AIGH Capital Management LLC bought a new stake in shares of Castle Biosciences during the second quarter valued at approximately $13,001,000. Finally, Renaissance Technologies LLC raised its position in shares of Castle Biosciences by 8.1% during the first quarter. Renaissance Technologies LLC now owns 532,800 shares of the company's stock valued at $13,080,000 after buying an additional 39,700 shares during the last quarter. Institutional investors own 92.60% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Roth Capital assumed 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. Wall Street Zen raised Castle Biosciences from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research report on Friday, July 31st. BTIG Research boosted their price target on Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.00.
Check Out Our Latest Analysis on CSTL
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.
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