Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating) – Equities research analysts at SVB Leerink lowered their Q2 2022 earnings estimates for Castle Biosciences in a report released on Monday, May 9th. SVB Leerink analyst P. Souda now expects that the company will post earnings per share of ($0.65) for the quarter, down from their previous estimate of ($0.54). SVB Leerink also issued estimates for Castle Biosciences’ Q3 2022 earnings at ($0.67) EPS, Q4 2022 earnings at ($0.67) EPS, Q1 2023 earnings at ($0.62) EPS, Q2 2023 earnings at ($0.56) EPS, Q3 2023 earnings at ($0.48) EPS, Q4 2023 earnings at ($0.41) EPS and FY2023 earnings at ($2.06) EPS.
Several other research firms have also recently issued reports on CSTL. Canaccord Genuity Group decreased their target price on shares of Castle Biosciences from $94.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 5th. Lake Street Capital decreased their price target on shares of Castle Biosciences from $94.00 to $63.00 in a report on Tuesday, March 1st. Robert W. Baird dropped their price objective on Castle Biosciences from $50.00 to $44.00 in a report on Tuesday. Canaccord Genuity Group reduced their target price on Castle Biosciences from $80.00 to $65.00 in a report on Tuesday. Finally, Zacks Investment Research downgraded Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.57.
Castle Biosciences (NASDAQ:CSTL – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.26). Castle Biosciences had a negative return on equity of 7.49% and a negative net margin of 33.26%. During the same period last year, the firm posted ($0.17) EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its holdings in Castle Biosciences by 28.9% in the first quarter. US Bancorp DE now owns 16,468 shares of the company’s stock valued at $739,000 after buying an additional 3,694 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Castle Biosciences by 16.8% during the first quarter. Bank of New York Mellon Corp now owns 101,886 shares of the company’s stock valued at $4,570,000 after purchasing an additional 14,658 shares during the period. JPMorgan Chase & Co. lifted its holdings in Castle Biosciences by 3.2% in the first quarter. JPMorgan Chase & Co. now owns 24,324 shares of the company’s stock worth $1,091,000 after purchasing an additional 754 shares during the period. Advisors Capital Management LLC increased its stake in Castle Biosciences by 3.6% during the 1st quarter. Advisors Capital Management LLC now owns 17,630 shares of the company’s stock valued at $791,000 after buying an additional 617 shares during the period. Finally, Essex Investment Management Co. LLC lifted its position in Castle Biosciences by 27.5% in the first quarter. Essex Investment Management Co. LLC now owns 117,245 shares of the company’s stock worth $5,260,000 after purchasing an additional 25,310 shares during the period. 84.29% of the stock is currently owned by institutional investors and hedge funds.
In other Castle Biosciences news, Director Daniel Bradbury sold 8,852 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $38.21, for a total transaction of $338,234.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 26,556 shares of company stock valued at $1,084,813. 15.40% of the stock is owned by corporate insiders.
Castle Biosciences Company Profile (Get Rating)
Castle Biosciences, Inc, a commercial-stage diagnostics company, focuses to provide diagnostic and prognostic testing services for dermatological cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma.
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