Q2 2024 Earnings Estimate for Castle Biosciences, Inc. Issued By Leerink Partnrs (NASDAQ:CSTL)

Castle Biosciences, Inc. (NASDAQ:CSTL) – Analysts at Leerink Partnrs increased their Q2 2024 earnings per share estimates for Castle Biosciences in a report issued on Thursday, July 18th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings of ($0.16) per share for the quarter, up from their previous estimate of ($0.33). The consensus estimate for Castle Biosciences’ current full-year earnings is ($1.66) per share. Leerink Partnrs also issued estimates for Castle Biosciences’ Q3 2024 earnings at ($0.66) EPS, Q4 2024 earnings at ($0.52) EPS, FY2024 earnings at ($1.44) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.34) EPS, Q4 2025 earnings at ($0.20) EPS and FY2025 earnings at ($1.46) EPS.

Separately, Robert W. Baird reissued an “outperform” rating and issued a $34.00 price target on shares of Castle Biosciences in a report on Friday, July 5th.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $20.29 on Monday. Castle Biosciences has a 1 year low of $12.07 and a 1 year high of $25.91. The stock has a market cap of $560.21 million, a PE ratio of -17.64 and a beta of 0.93. The stock has a fifty day moving average price of $21.86 and a 200 day moving average price of $21.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.02 and a current ratio of 9.25.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.28. The firm had revenue of $72.97 million during the quarter, compared to analysts’ expectations of $68.34 million. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%.

Institutional Investors Weigh In On Castle Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. RiverPark Advisors LLC boosted its position in shares of Castle Biosciences by 362.2% in the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after buying an additional 2,242 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Castle Biosciences by 351.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,110 shares of the company’s stock valued at $67,000 after purchasing an additional 2,421 shares during the last quarter. Assetmark Inc. boosted its holdings in Castle Biosciences by 21.3% in the fourth quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock valued at $102,000 after purchasing an additional 832 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Castle Biosciences by 943.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,739 shares of the company’s stock valued at $124,000 after purchasing an additional 5,189 shares during the last quarter. Finally, WuXi AppTec Co. Ltd. purchased a new position in Castle Biosciences in the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,368 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was 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 directly 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 the SEC website. In other Castle Biosciences news, Director Daniel Bradbury sold 23,323 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.64, for a total transaction of $574,678.72. Following the completion of the sale, the director now owns 9,981 shares of the company’s stock, valued at $245,931.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 2,368 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $23.40, for a total value of $55,411.20. Following the sale, the insider now directly owns 57,893 shares of the company’s stock, valued at approximately $1,354,696.20. The disclosure for this sale can be found here. Insiders sold a total of 28,059 shares of company stock valued at $688,627 over the last three months. 7.20% of the stock is currently owned by insiders.

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.