Key Points
- Insider sale: Tobin Juvenal sold 6,578 Castle Biosciences shares for approximately $239,571 under a pre-arranged Rule 10b5-1 plan, reducing the position by 14.48%.
- Financial performance: Castle Biosciences reported quarterly revenue of $99.86 million and an EPS loss of $0.07, both better than analyst expectations. Shares opened at $37.16, within a 12-month range of $17.72 to $44.28.
- Analyst and institutional sentiment: Analysts maintain a “Moderate Buy” consensus with an average $44.25 price target, while institutional investors own 92.6% of the stock.
Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) insider Tobin Juvenal sold 6,578 shares of the firm's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $36.42, for a total transaction of $239,570.76. Following the sale, the insider directly owned 38,853 shares of the company's stock, valued at $1,415,026.26. This trade represents a 14.48% decrease in their position. The sale was disclosed in a 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 Price Performance
Shares of NASDAQ CSTL opened at $37.16 on Friday. Castle Biosciences, Inc. has a twelve month low of $17.72 and a twelve month high of $44.28. 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 company has a 50 day moving average of $34.22 and a 200 day moving average of $28.68.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.34. The business had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. As a group, equities research analysts predict that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Wall Street Zen cut Castle Biosciences from a "buy" rating to a "hold" rating in a research report on Saturday, October 24th. Mizuho began coverage on Castle Biosciences in a research report on Thursday. They issued an "outperform" rating and a $60.00 target price for the company. BTIG Research upped 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 reaffirmed a "sell (d-)" rating on shares of Castle Biosciences in a report on Thursday. Finally, Robert W. Baird set a $36.00 price target on shares of Castle Biosciences in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.25.
View Our Latest Stock Analysis on Castle Biosciences
Hedge Funds Weigh In On Castle Biosciences
Several hedge funds and other institutional investors have recently modified their holdings of CSTL. BlackRock Inc. purchased a new position in shares of Castle Biosciences in the 2nd quarter worth $78,513,000. Jefferies Financial Group Inc. bought a new stake in shares of Castle Biosciences in the second quarter worth $15,440,000. AIGH Capital Management LLC bought a new stake in shares of Castle Biosciences in the second quarter worth $13,001,000. Renaissance Technologies LLC increased its position in 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 acquiring an additional 39,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Castle Biosciences during the second quarter valued at $7,912,000. 92.60% of the stock is 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 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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