Castle Biosciences (NASDAQ:CSTL) Sets New 12-Month High at $31.91

Castle Biosciences, Inc. (NASDAQ:CSTL) shares hit a new 52-week high on Tuesday . The company traded as high as $31.91 and last traded at $31.68, with a volume of 29029 shares trading hands. The stock had previously closed at $30.95.

Wall Street Analyst Weigh In

CSTL has been the topic of several research analyst reports. Stephens reiterated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. Robert W. Baird upped their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences presently has a consensus rating of “Buy” and an average price target of $32.80.

Castle Biosciences Stock Performance

The company has a market capitalization of $871.83 million, a P/E ratio of -26.91 and a beta of 1.02. The company’s 50 day moving average is $25.27 and its 200-day moving average is $23.01. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. The business had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. During the same quarter last year, the firm earned ($0.70) earnings per share. Equities analysts anticipate that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel Bradbury sold 7,883 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the transaction, the director now directly owns 8,550 shares in the company, valued at $227,857.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniel Bradbury sold 7,883 shares of the company’s 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 in the company, valued at $227,857.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kristen M. Oelschlager sold 2,793 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the sale, the chief operating officer now directly owns 145,825 shares of the company’s stock, valued at approximately $3,216,899.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,665 shares of company stock valued at $828,222. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Castle Biosciences

A number of large investors have recently made changes to their positions in the stock. RiverPark Advisors LLC increased its position in shares of Castle Biosciences by 362.2% during the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after purchasing an additional 2,242 shares during the last quarter. Assetmark Inc. increased its stake in 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 buying an additional 832 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Castle Biosciences by 70.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after acquiring an additional 2,187 shares during the period. Denali Advisors LLC purchased a new position in shares of Castle Biosciences in the first quarter valued at about $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Castle Biosciences by 10.7% in 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 during the period. 92.60% of the stock is currently owned by institutional investors.

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.