Castle Biosciences, Inc. (NASDAQ:CSTL – Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $33.86 and traded as high as $34.66. Castle Biosciences shares last traded at $34.51, with a volume of 295,208 shares changing hands.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on CSTL shares. Mizuho initiated coverage on Castle Biosciences in a research note on Thursday. They issued an “outperform” rating and a $60.00 target price on the stock. Robert W. Baird set a $36.00 price target on Castle Biosciences in a research note on Friday, July 31st. BTIG Research increased their price target on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Castle Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.25.
Check Out Our Latest Report on Castle Biosciences
Castle Biosciences Stock Performance
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 simple moving average of $34.13 and a 200-day simple moving average of $28.69.
Castle Biosciences (NASDAQ:CSTL – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. The business had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. As a group, equities research analysts forecast that Castle Biosciences, Inc. will post -1.29 EPS for the current year.
Insider Buying and Selling at Castle Biosciences
In other news, insider Derek Maetzold sold 8,580 shares of the company’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $31.91, for a total transaction of $273,787.80. Following the transaction, the insider directly owned 12,484 shares of the company’s stock, valued at $398,364.44. This represents a 40.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tobin W. Juvenal sold 3,288 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $33.08, for a total transaction of $108,767.04. Following the completion of the transaction, the insider owned 45,431 shares of the company’s stock, valued at $1,502,857.48. This represents a 6.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 214,894 shares of company stock valued at $6,976,395. 6.10% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in CSTL. Assetmark Inc. increased its position in shares of Castle Biosciences by 9.3% in the first quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock valued at $142,000 after buying an additional 492 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Castle Biosciences by 15.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,574 shares of the company’s stock worth $194,000 after buying an additional 747 shares in the last quarter. NFSG Corp acquired a new stake in Castle Biosciences in the 3rd quarter valued at about $36,000. Global Retirement Partners LLC acquired a new stake in Castle Biosciences in the 2nd quarter valued at about $26,000. Finally, Summit Global Investments grew its stake in Castle Biosciences by 10.9% in the 1st quarter. Summit Global Investments now owns 13,718 shares of the company’s stock valued at $337,000 after acquiring an additional 1,353 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.
Castle Biosciences Company Profile
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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