Castle Biosciences (NASDAQ:CSTL) Stock Price Down 2.1%

Castle Biosciences, Inc. (NASDAQ:CSTL) was down 2.1% on Wednesday . The stock traded as low as $30.59 and last traded at $30.59. Approximately 14,173 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 302,703 shares. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CSTL shares. Robert W. Baird raised their price target on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Stephens reissued an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.80.

Castle Biosciences Price Performance

The firm has a market capitalization of $842.84 million, a PE ratio of -26.55 and a beta of 1.02. The stock has a 50-day moving average price of $26.04 and a 200 day moving average price of $23.19. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47. The business had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same period in the previous year, the business earned ($0.70) earnings per share. Equities analysts forecast that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insider Activity

In other news, COO Kristen M. Oelschlager sold 12,989 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.06, for a total value of $299,526.34. Following the completion of the sale, the chief operating officer now directly owns 132,836 shares in the company, valued at $3,063,198.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Kristen M. Oelschlager sold 12,989 shares of Castle Biosciences stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.06, for a total value of $299,526.34. Following the sale, the chief operating officer now directly owns 132,836 shares of the company’s stock, valued at $3,063,198.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the completion of the sale, the director now directly owns 8,550 shares in the company, valued at $227,857.50. The disclosure for this sale can be found here. Insiders sold 33,665 shares of company stock worth $828,222 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Castle Biosciences

A number of institutional investors have recently made changes to their positions in CSTL. Assetmark Inc. boosted its stake in shares of Castle Biosciences by 21.3% in the fourth quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock worth $102,000 after acquiring an additional 832 shares during the last quarter. Millrace Asset Group Inc. boosted its stake in Castle Biosciences by 2.1% during the fourth quarter. Millrace Asset Group Inc. now owns 78,914 shares of the company’s stock worth $1,703,000 after buying an additional 1,599 shares during the last quarter. Olympiad Research LP acquired a new position in Castle Biosciences during the fourth quarter worth $263,000. Intrinsic Edge Capital Management LLC boosted its stake in Castle Biosciences by 108.8% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock worth $7,041,000 after buying an additional 170,000 shares during the last quarter. Finally, Bellevue Group AG boosted its stake in Castle Biosciences by 0.4% during the fourth quarter. Bellevue Group AG now owns 1,232,378 shares of the company’s stock worth $26,595,000 after buying an additional 4,347 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.