Castle Biosciences (NASDAQ:CSTL) Releases Earnings Results, Beats Estimates By $0.47 EPS

Castle Biosciences (NASDAQ:CSTL) posted its quarterly earnings data on Monday. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47, Yahoo Finance reports. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. The company had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. During the same quarter in the prior year, the company posted ($0.70) EPS. Castle Biosciences updated its FY 2024 guidance to EPS.

Castle Biosciences Stock Up 8.0 %

NASDAQ CSTL traded up $1.99 on Wednesday, reaching $26.89. The company had a trading volume of 456,101 shares, compared to its average volume of 288,764. The firm has a market capitalization of $742.35 million, a PE ratio of -23.72 and a beta of 0.93. Castle Biosciences has a 1 year low of $12.07 and a 1 year high of $28.22. The firm has a 50-day moving average of $21.42 and a 200-day moving average of $21.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.25 and a quick ratio of 9.02.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSTL. Robert W. Baird boosted their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday. Stephens reiterated an “overweight” rating and set a $37.00 target price on shares of Castle Biosciences in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.80.

Insiders Place Their Bets

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 12,989 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.06, for a total value of $299,526.34. Following the completion of the transaction, the chief operating officer now owns 132,836 shares in the company, valued at approximately $3,063,198.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Castle Biosciences news, COO Kristen M. Oelschlager sold 12,989 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.06, for a total value of $299,526.34. Following the transaction, the chief operating officer now directly owns 132,836 shares of the company’s stock, valued at approximately $3,063,198.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 2,368 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 18,150 shares of company stock worth $416,551 in the last 90 days. 7.20% of the stock is owned by company 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.