Key Points
- Castle Biosciences COO Kristen Oelschlager sold 4,153 shares at an average price of $35.95, totaling approximately $149,300. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced her direct ownership by 23.72%.
- Castle Biosciences shares opened at $36.65 and were reported up 3.1%, while the company’s latest quarterly results exceeded expectations with a loss of $0.07 per share versus the expected $0.41 loss and revenue of $99.86 million.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $42.00, and institutional investors own approximately 92.60% of the company’s stock.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) COO Kristen Oelschlager sold 4,153 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $35.95, for a total value of $149,300.35. Following the transaction, the chief operating officer directly owned 13,356 shares in the company, valued at approximately $480,148.20. The trade was a 23.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Castle Biosciences Trading Up 3.1%
Castle Biosciences stock opened at $36.65 on Tuesday. Castle Biosciences, Inc. has a one year low of $17.72 and a one year high of $44.28. The business's fifty day moving average is $32.73 and its 200 day moving average is $26.35. The stock has a market capitalization of $1.12 billion, a PE ratio of -55.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its earnings results 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 business had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. On average, sell-side analysts predict that Castle Biosciences, Inc. will post -1.29 EPS for the current year.
Analysts Set New Price Targets
CSTL has been the topic of a number of research analyst reports. Robert W. Baird set a $36.00 price objective on shares of Castle Biosciences in a research report on Friday, July 31st. Wall Street Zen raised shares of Castle Biosciences from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. BTIG Research boosted their target price on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Finally, Roth Capital began coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a "buy" rating and a $40.00 price target on the stock. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.00.
Read Our Latest Research Report on Castle Biosciences
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of Castle Biosciences by 9.3% during the first quarter. Assetmark Inc. now owns 5,779 shares of the company's stock valued at $142,000 after purchasing an additional 492 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Castle Biosciences by 140.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company's stock worth $68,000 after buying an additional 1,022 shares in the last quarter. Global Retirement Partners LLC bought a new position in Castle Biosciences during the second quarter valued at approximately $26,000. Summit Global Investments boosted its stake in Castle Biosciences by 10.9% during the first quarter. Summit Global Investments now owns 13,718 shares of the company's stock valued at $337,000 after buying an additional 1,353 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Castle Biosciences by 0.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 160,663 shares of the company's stock valued at $3,944,000 after buying an additional 1,492 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.
About Castle Biosciences
(
Get Free Report)
Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to provide personalized information for patients with cancer and other serious diseases. Its products analyze biological characteristics in tissue samples to help physicians assess disease risk, guide treatment decisions and support patient management.
The company's portfolio includes diagnostic tests for skin cancers, such as DecisionDx-Melanoma for assessing metastatic risk in patients with cutaneous melanoma and DecisionDx-SCC for evaluating metastatic risk in certain cases of cutaneous squamous cell carcinoma.
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