Castle Biosciences (NASDAQ:CSTL) Shares Up 7.3% – Time to Buy?

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) were up 7.3% during trading on Friday . The company traded as high as $30.41 and last traded at $30.38. Approximately 118,923 shares were traded during trading, a decline of 61% from the average daily volume of 305,294 shares. The stock had previously closed at $28.30.

Analyst Upgrades and Downgrades

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

Castle Biosciences Stock Performance

The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $864.47 million, a PE ratio of -215.29 and a beta of 1.03. The stock’s 50 day moving average price is $28.56 and its two-hundred day moving average price is $24.09.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The company 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 business posted ($0.70) earnings per share. On average, equities analysts expect that Castle Biosciences, Inc. will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 12,989 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 in the company, valued at approximately $3,063,198.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Castle Biosciences news, COO Kristen M. Oelschlager sold 12,989 shares of the business’s stock in a transaction 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 directly owns 132,836 shares in the company, valued at approximately $3,063,198.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $30.27, for a total value of $29,846.22. Following the sale, the insider now owns 93,636 shares in the company, valued at $2,834,361.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,504 shares of company stock worth $1,118,000. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Castle Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in shares of Castle Biosciences by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after acquiring an additional 675 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 purchasing an additional 952 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Castle Biosciences by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock valued at $400,000 after purchasing an additional 1,131 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Castle Biosciences by 70.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after buying an additional 2,187 shares during the period. Finally, RiverPark Advisors LLC grew its stake 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 buying an additional 2,242 shares during the period. Hedge funds and other 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.