Castle Biosciences, Inc. (NASDAQ:CSTL) Director Sells $229,244.38 in Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) Director Daniel Bradbury sold 7,867 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.14, for a total transaction of $229,244.38. Following the completion of the transaction, the director now owns 1,425 shares of the company’s stock, valued at $41,524.50. This represents a 84.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Castle Biosciences Trading Up 1.7 %

Shares of NASDAQ:CSTL traded up $0.55 during trading on Wednesday, reaching $32.72. The stock had a trading volume of 351,560 shares, compared to its average volume of 334,492. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The stock has a market cap of $916.39 million, a P/E ratio of 163.61 and a beta of 0.92. The business has a fifty day moving average price of $29.95 and a 200-day moving average price of $27.74. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last issued 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. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same period in the previous year, the firm posted ($0.26) EPS. As a group, analysts anticipate that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Castle Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Castle Biosciences by 15.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 96,688 shares of the company’s stock worth $2,105,000 after acquiring an additional 12,583 shares during the period. Rhumbline Advisers boosted its holdings in shares of Castle Biosciences by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 41,896 shares of the company’s stock valued at $912,000 after purchasing an additional 2,988 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Castle Biosciences by 33.0% during the 2nd quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock valued at $6,101,000 after buying an additional 69,673 shares during the period. American Century Companies Inc. increased its holdings in shares of Castle Biosciences by 12.9% during the 2nd quarter. American Century Companies Inc. now owns 42,818 shares of the company’s stock worth $932,000 after buying an additional 4,898 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Castle Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after buying an additional 60,675 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Lake Street Capital upped their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on shares of 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 raised their target price on shares of 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 upped their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Stephens reissued an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences currently has an average rating of “Buy” and an average price target of $40.29.

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.