-$0.65 EPS Expected for Castle Biosciences, Inc. (NASDAQ:CSTL) This Quarter

Equities analysts expect Castle Biosciences, Inc. (NASDAQ:CSTLGet Rating) to announce earnings of ($0.65) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Castle Biosciences’ earnings, with the lowest EPS estimate coming in at ($0.65) and the highest estimate coming in at ($0.64). Castle Biosciences posted earnings of ($0.34) per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 91.2%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Castle Biosciences will report full-year earnings of ($2.70) per share for the current year, with EPS estimates ranging from ($2.89) to ($2.50). For the next fiscal year, analysts forecast that the firm will post earnings of ($2.13) per share, with EPS estimates ranging from ($2.52) to ($1.80). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Castle Biosciences.

Castle Biosciences (NASDAQ:CSTLGet Rating) last issued its quarterly earnings results 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 net margin of 52.62% and a negative return on equity of 11.53%. During the same period in the prior year, the firm earned ($0.17) earnings per share.

A number of research analysts recently commented on CSTL shares. Robert W. Baird cut their price objective on shares of Castle Biosciences from $50.00 to $44.00 in a research report on Tuesday. Lake Street Capital decreased their price objective on shares of Castle Biosciences from $94.00 to $63.00 in a research note on Tuesday, March 1st. Zacks Investment Research downgraded shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th. Canaccord Genuity Group reduced their target price on Castle Biosciences from $94.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, April 5th. Finally, Canaccord Genuity Group lowered their price target on Castle Biosciences from $80.00 to $65.00 in a report on Tuesday. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $62.57.

CSTL opened at $18.97 on Tuesday. Castle Biosciences has a 52-week low of $17.01 and a 52-week high of $78.92. The business’s fifty day moving average is $33.56 and its 200-day moving average is $40.38.

In related news, Director Daniel Bradbury sold 8,852 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $39.02, for a total transaction of $345,405.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 26,556 shares of company stock valued at $1,084,813 over the last quarter. 39.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ensign Peak Advisors Inc bought a new stake in Castle Biosciences during the fourth quarter valued at $38,000. First Horizon Advisors Inc. boosted its position in shares of Castle Biosciences by 161.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 999 shares of the company’s stock valued at $57,000 after purchasing an additional 617 shares in the last quarter. UBS Group AG grew its stake in Castle Biosciences by 84.7% during the third quarter. UBS Group AG now owns 1,256 shares of the company’s stock worth $83,000 after purchasing an additional 576 shares during the period. Royal Bank of Canada increased its holdings in Castle Biosciences by 15.3% in the second quarter. Royal Bank of Canada now owns 1,775 shares of the company’s stock worth $130,000 after purchasing an additional 235 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Castle Biosciences in the third quarter valued at approximately $212,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

About Castle Biosciences (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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