Castle Biosciences (NASDAQ:CSTL) Shares Gap Up to $27.21

Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating) shares gapped up before the market opened on Tuesday . The stock had previously closed at $27.21, but opened at $27.99. Castle Biosciences shares last traded at $27.17, with a volume of 277 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSTL. Scotiabank began coverage on shares of Castle Biosciences in a report on Wednesday, January 4th. They issued a “sector outperform” rating and a $54.00 target price for the company. Robert W. Baird cut their target price on shares of Castle Biosciences from $48.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, November 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Castle Biosciences currently has an average rating of “Buy” and a consensus price target of $57.14.

Castle Biosciences Price Performance

The company has a market capitalization of $713.35 million, a P/E ratio of -13.20 and a beta of 1.00. The business has a 50-day moving average of $23.14 and a 200-day moving average of $25.52.

Castle Biosciences (NASDAQ:CSTL – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.07). The company had revenue of $37.01 million during the quarter, compared to the consensus estimate of $34.36 million. Castle Biosciences had a negative return on equity of 11.87% and a negative net margin of 42.79%. Sell-side analysts predict that Castle Biosciences, Inc. will post -2.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel Bradbury sold 7,704 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $22.89, for a total value of $176,344.56. Following the completion of the sale, the director now directly owns 199,539 shares in the company, valued at $4,567,447.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Daniel Bradbury sold 7,704 shares of Castle Biosciences stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $22.89, for a total transaction of $176,344.56. Following the completion of the sale, the director now directly owns 199,539 shares in the company, valued at $4,567,447.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Derek J. Maetzold sold 3,833 shares of Castle Biosciences stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $22.90, for a total value of $87,775.70. Following the sale, the insider now owns 301,529 shares of the company’s stock, valued at $6,905,014.10. The disclosure for this sale can be found here. Insiders sold a total of 25,555 shares of company stock worth $578,446 over the last three months. 7.30% of the stock is owned by insiders.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd lifted its position in shares of Castle Biosciences by 827.0% during the third quarter. Point72 Hong Kong Ltd now owns 1,168 shares of the company’s stock worth $30,000 after purchasing an additional 1,042 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Castle Biosciences during the first quarter worth $57,000. Tower Research Capital LLC TRC raised its holdings in shares of Castle Biosciences by 61.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,821 shares of the company’s stock valued at $47,000 after acquiring an additional 691 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Castle Biosciences by 247.2% in the third quarter. Ensign Peak Advisors Inc now owns 3,090 shares of the company’s stock valued at $81,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Castle Biosciences in the first quarter valued at about $152,000. 82.43% of the stock is currently owned by institutional investors.

About Castle Biosciences

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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.