Key Points
- Insider sale: Tobin Juvenal sold 3,288 Castle Biosciences shares for approximately $108,767 under a pre-arranged Rule 10b5-1 plan, reducing the insider’s stake by 6.75%.
- Stock and financial performance: CSTL shares opened at $36.68 and were reported up 6.3%; the company’s latest quarterly revenue reached $99.86 million, while its adjusted loss of $0.07 per share beat analyst expectations.
- Analyst sentiment remains favorable: Analysts give Castle Biosciences a consensus “Moderate Buy” rating with a $42.00 target price, while hedge funds and other institutions own 92.6% of the company’s shares.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 3,288 shares of the firm's stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $33.08, for a total transaction of $108,767.04. Following the completion of the sale, the insider directly owned 45,431 shares of the company's stock, valued at approximately $1,502,857.48. The trade was a 6.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Castle Biosciences Stock Up 6.3%
Shares of NASDAQ:CSTL opened at $36.68 on Thursday. Castle Biosciences, Inc. has a 1 year low of $17.72 and a 1 year high of $44.28. The business has a 50 day simple moving average of $34.01 and a two-hundred day simple moving average of $28.69. The firm has a market capitalization of $1.12 billion, a PE ratio of -55.58 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 released its 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 return on equity of 4.15% and a negative net margin of 5.43%. The firm had revenue of $99.86 million for the quarter, compared to analysts' expectations of $86.23 million. On average, equities 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 institutional investors have recently modified their holdings of CSTL. NFSG Corp bought a new stake in shares of Castle Biosciences during the third quarter valued at approximately $36,000. Global Retirement Partners LLC purchased a new stake in shares of Castle Biosciences in the second quarter valued at approximately $26,000. Quantbot Technologies LP purchased a new stake in shares of Castle Biosciences in the second quarter valued at approximately $62,000. State of Wyoming purchased a new stake in shares of Castle Biosciences in the second quarter valued at approximately $117,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Castle Biosciences by 15.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,574 shares of the company's stock worth $194,000 after purchasing an additional 747 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have commented on CSTL shares. BTIG Research upped their price objective on Castle Biosciences from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Castle Biosciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Castle Biosciences from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. One research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $42.00.
Check Out Our Latest Stock Analysis on Castle Biosciences
Castle Biosciences Company Profile
(
Get Free Report)
Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.
Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.
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