Castle Biosciences (NASDAQ:CSTL) Sets New 1-Year High at $31.91

Castle Biosciences, Inc. (NASDAQ:CSTL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.91 and last traded at $31.68, with a volume of 29029 shares changing hands. The stock had previously closed at $30.95.

Analyst Ratings Changes

Several equities analysts recently weighed in on CSTL shares. Stephens reaffirmed an “overweight” rating and set a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, August 6th. Robert W. Baird increased 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.80.

Castle Biosciences Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The firm has a market capitalization of $871.83 million, a PE ratio of -26.91 and a beta of 1.02. The stock has a fifty day moving average price of $25.27 and a 200-day moving average price of $23.01.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly 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. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. The business had revenue of $87.00 million during the quarter, compared to analyst estimates of $69.95 million. During the same period in the prior year, the firm posted ($0.70) earnings per share. Sell-side analysts forecast that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel Bradbury sold 7,883 shares of the firm’s stock in a transaction 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 owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the sale, the director now owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Kristen M. Oelschlager sold 2,793 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the transaction, the chief operating officer now owns 145,825 shares in the company, valued at approximately $3,216,899.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,665 shares of company stock valued at $828,222. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors have recently modified their holdings of CSTL. RiverPark Advisors LLC lifted its stake in Castle Biosciences by 362.2% in the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after buying an additional 2,242 shares in the last quarter. Assetmark Inc. boosted its holdings in Castle Biosciences by 21.3% during the 4th quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock valued at $102,000 after acquiring an additional 832 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Castle Biosciences by 70.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after acquiring an additional 2,187 shares in the last quarter. Denali Advisors LLC purchased a new stake in Castle Biosciences during the first quarter worth about $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Castle Biosciences by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after purchasing an additional 952 shares during the period. 92.60% of the stock is currently 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.