Castle Biosciences (NASDAQ:CSTL) Stock Price Down 4.2%

Castle Biosciences, Inc. (NASDAQ:CSTL) fell 4.2% on Thursday . The stock traded as low as $26.60 and last traded at $26.67. 128,042 shares changed hands during trading, a decline of 57% from the average session volume of 299,654 shares. The stock had previously closed at $27.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stephens reissued an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. Robert W. Baird boosted their target price on shares of Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $32.80.

Castle Biosciences Stock Down 1.4 %

The company has a market cap of $758.36 million, a PE ratio of -24.22 and a beta of 0.93. The business has a fifty day simple moving average of $22.29 and a two-hundred day simple moving average of $22.31. The company has a current ratio of 9.25, a quick ratio of 9.02 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.47. The firm had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. During the same period last year, the firm posted ($0.70) EPS. As a group, equities research analysts predict that Castle Biosciences, Inc. will post -1.66 earnings per share for the current year.

Insider Activity at Castle Biosciences

In other news, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the transaction, the director now owns 8,550 shares of the company’s stock, valued at $227,857.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Castle Biosciences news, insider Derek J. Maetzold sold 2,368 shares of the stock in a transaction 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 sale, the insider now directly owns 57,893 shares in the company, valued at $1,354,696.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel Bradbury sold 7,883 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the transaction, the director now owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,033 shares of company stock worth $883,633. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently bought and sold shares of the stock. RiverPark Advisors LLC increased its stake 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 valued at $63,000 after buying an additional 2,242 shares during the period. Assetmark Inc. grew its stake in shares of Castle Biosciences by 21.3% in the 4th quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock worth $102,000 after acquiring an additional 832 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Castle Biosciences by 70.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock worth $117,000 after buying an additional 2,187 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Castle Biosciences by 943.5% during the 4th 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. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.