Castle Biosciences, Inc. (NASDAQ:CSTL) Short Interest Up 7.6% in November

Castle Biosciences, Inc. (NASDAQ:CSTL) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 1,840,000 shares, an increase of 7.6% from the November 15th total of 1,710,000 shares. Based on an average daily trading volume, of 390,900 shares, the days-to-cover ratio is currently 4.7 days.

Castle Biosciences Trading Down 2.3 %

Shares of NASDAQ:CSTL traded down $0.66 during mid-day trading on Tuesday, hitting $28.14. The company had a trading volume of 213,433 shares, compared to its average volume of 326,836. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences has a one year low of $16.97 and a one year high of $35.84. The firm has a fifty day moving average price of $31.28 and a 200 day moving average price of $27.17. The company has a market capitalization of $788.12 million, a PE ratio of 142.60 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same period in the previous year, the firm posted ($0.26) earnings per share. As a group, research analysts forecast that Castle Biosciences will post 0.34 EPS for the current year.

Analyst Ratings Changes

CSTL has been the subject of several recent research reports. Canaccord Genuity Group increased their price target on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. BTIG Research upped their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Robert W. Baird raised their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. KeyCorp boosted their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Scotiabank lifted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences has an average rating of “Buy” and an average price target of $39.71.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the sale, the insider now owns 94,622 shares in the company, valued at $2,718,490.06. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tobin W. Juvenal sold 3,507 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the transaction, the insider now directly owns 54,178 shares of the company’s stock, valued at approximately $1,926,569.68. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,185 shares of company stock worth $814,495 in the last ninety days. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Castle Biosciences in the 2nd quarter worth $588,000. Summit Global Investments bought a new position in shares of Castle Biosciences in the second quarter valued at $518,000. Bank of New York Mellon Corp grew its holdings in shares of Castle Biosciences by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 96,688 shares of the company’s stock valued at $2,105,000 after buying an additional 12,583 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Castle Biosciences during the second quarter worth about $308,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 acquiring an additional 952 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.