Castle Biosciences (NASDAQ:CSTL) Reaches New 12-Month High at $30.66

Castle Biosciences, Inc. (NASDAQ:CSTL) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $30.66 and last traded at $30.49, with a volume of 199117 shares changing hands. The stock had previously closed at $29.30.

Wall Street Analyst Weigh In

Several research analysts recently commented on CSTL shares. Stephens restated an “overweight” rating and set a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. Robert W. Baird increased their price objective 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.80.

Castle Biosciences Trading Up 5.9 %

The company has a market cap of $856.65 million, a P/E ratio of -25.48 and a beta of 1.02. The business’s 50-day moving average price is $24.35 and its 200 day moving average price is $22.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.47. The business had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same quarter last year, the company posted ($0.70) earnings per share. As a group, analysts expect that Castle Biosciences, Inc. will post -1.27 earnings per share for the current year.

Insider Activity at Castle Biosciences

In other news, COO Kristen M. Oelschlager sold 12,989 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $23.06, for a total transaction of $299,526.34. Following the completion of the sale, 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 filing with the SEC, which is accessible through this link. In related news, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the completion of the sale, the director now directly owns 8,550 shares in the company, valued at approximately $227,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kristen M. Oelschlager sold 12,989 shares of the 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 transaction, the chief operating officer now owns 132,836 shares in the company, valued at approximately $3,063,198.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,665 shares of company stock worth $828,222. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in Castle Biosciences by 7.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,585,673 shares of the company’s stock worth $34,219,000 after acquiring an additional 103,503 shares during the period. Vanguard Group Inc. increased its position in shares of Castle Biosciences by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after purchasing an additional 32,695 shares during the period. Bellevue Group AG raised its stake in Castle Biosciences by 0.4% in the fourth quarter. Bellevue Group AG now owns 1,232,378 shares of the company’s stock valued at $26,595,000 after purchasing an additional 4,347 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Castle Biosciences by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after purchasing an additional 60,675 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in Castle Biosciences by 59.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock worth $7,707,000 after purchasing an additional 132,564 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.