Key Points
- Insider sale: Tobin Juvenal sold 3,288 Castle Biosciences shares for approximately $110,608 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 6.32% to 48,719 shares.
- Financial performance: Castle Biosciences reported a quarterly loss of $0.07 per share, beating estimates of a $0.41 loss, while revenue of $99.86 million exceeded the $86.23 million consensus forecast.
- Analyst sentiment: The stock carries a consensus “Moderate Buy” rating with an average price target of $42.00, while institutional investors and hedge funds own 92.6% of outstanding shares.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 3,288 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $33.64, for a total transaction of $110,608.32. Following the sale, the insider directly owned 48,719 shares in the company, valued at $1,638,907.16. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Castle Biosciences Trading Up 0.7%
CSTL stock opened at $33.11 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 firm's fifty day moving average is $33.50 and its 200 day moving average is $26.74. Castle Biosciences, Inc. has a one year low of $17.72 and a one year high of $44.28.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued 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 business had revenue of $99.86 million during 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%. On average, sell-side analysts forecast that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on CSTL. Weiss Ratings upgraded Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Roth Capital initiated coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a "buy" rating and a $40.00 price target for the company. Robert W. Baird set a $36.00 price target on Castle Biosciences in a research report on Friday, July 31st. BTIG Research raised their price objective on Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Wall Street Zen raised Castle Biosciences from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. One equities 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $42.00.
View Our Latest Analysis on CSTL
Institutional Investors Weigh In On Castle Biosciences
A number of hedge funds have recently modified their holdings of CSTL. Green Alpha Advisors LLC lifted its stake in shares of Castle Biosciences by 39.1% in the third quarter. Green Alpha Advisors LLC now owns 13,828 shares of the company's stock worth $491,000 after buying an additional 3,887 shares in the last quarter. Tidal Investments LLC purchased a new stake in Castle Biosciences during the 2nd quarter valued at about $529,000. Engineers Gate Manager LP grew its stake in Castle Biosciences by 61.5% during the 2nd quarter. Engineers Gate Manager LP now owns 29,480 shares of the company's stock valued at $703,000 after acquiring an additional 11,224 shares in the last quarter. Empowered Funds LLC acquired a new stake in Castle Biosciences in the 2nd quarter valued at about $3,395,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Castle Biosciences in the 2nd quarter valued at about $15,440,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.
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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