Castle Biosciences (NASDAQ:CSTL) Reaches New 1-Year High at $28.46

Castle Biosciences, Inc. (NASDAQ:CSTL) shares reached a new 52-week high during trading on Monday . The company traded as high as $28.46 and last traded at $28.46, with a volume of 373537 shares changing hands. The stock had previously closed at $26.99.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSTL. Stephens reiterated an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. Robert W. Baird boosted their target price on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.80.

Castle Biosciences Stock Up 3.1 %

The stock has a market cap of $768.85 million, a PE ratio of -24.22 and a beta of 0.93. The firm has a fifty day moving average of $22.29 and a 200 day moving average of $22.31. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.47. The firm had revenue of $87.00 million for the quarter, compared to analyst estimates of $69.95 million. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%. During the same quarter in the prior year, the company posted ($0.70) earnings per share. On average, equities research analysts anticipate that Castle Biosciences, Inc. will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,368 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $23.40, for a total value of $55,411.20. Following the completion of the transaction, the insider now owns 57,893 shares in the company, valued at $1,354,696.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Kristen M. Oelschlager sold 2,793 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the completion of the sale, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek J. Maetzold sold 2,368 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $23.40, for a total transaction of $55,411.20. Following the transaction, the insider now directly owns 57,893 shares of the company’s stock, valued at $1,354,696.20. The disclosure for this sale can be found here. Insiders sold 36,033 shares of company stock worth $883,633 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CSTL. Olympiad Research LP purchased a new position in shares of Castle Biosciences during the 4th quarter worth approximately $263,000. Principal Financial Group Inc. increased its stake in shares of Castle Biosciences by 7.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,585,673 shares of the company’s stock worth $34,219,000 after purchasing an additional 103,503 shares in the last quarter. Vanguard Group Inc. boosted its position in Castle Biosciences by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after acquiring an additional 32,695 shares during the last quarter. Acadian Asset Management LLC boosted its position in Castle Biosciences by 130.7% during the first quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after acquiring an additional 119,443 shares during the last quarter. Finally, Bellevue Group AG boosted its holdings in shares of Castle Biosciences by 0.4% in the 4th quarter. Bellevue Group AG now owns 1,232,378 shares of the company’s stock valued at $26,595,000 after purchasing an additional 4,347 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.