Castle Biosciences (NASDAQ:CSTL) Shares Up 4.4%

Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating)’s share price rose 4.4% during mid-day trading on Friday . The stock traded as high as $24.57 and last traded at $24.54. Approximately 25,211 shares changed hands during trading, a decline of 82% from the average daily volume of 137,104 shares. The stock had previously closed at $23.51.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Castle Biosciences from $38.00 to $35.00 in a report on Thursday, May 4th. Lake Street Capital lowered their target price on shares of Castle Biosciences from $63.00 to $41.00 in a report on Wednesday, March 1st. Finally, Stephens reiterated an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, March 2nd.

Castle Biosciences Price Performance

The company has a market capitalization of $656.87 million, a price-to-earnings ratio of -9.08 and a beta of 1.02. The stock’s fifty day simple moving average is $22.59 and its two-hundred day simple moving average is $23.51.

Castle Biosciences (NASDAQ:CSTL – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.13. Castle Biosciences had a negative net margin of 47.11% and a negative return on equity of 17.74%. The firm had revenue of $38.34 million during the quarter, compared to analyst estimates of $36.53 million. On average, sell-side analysts predict that Castle Biosciences, Inc. will post -3.6 EPS for the current year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 17,643 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $21.69, for a total transaction of $382,676.67. Following the completion of the sale, the director now directly owns 79,251 shares of the company’s stock, valued at $1,718,954.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Castle Biosciences news, Director Daniel Bradbury sold 17,643 shares of Castle Biosciences stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $21.69, for a total value of $382,676.67. Following the completion of the sale, the director now directly owns 79,251 shares in the company, valued at $1,718,954.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 2,792 shares of Castle Biosciences stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $24.71, for a total transaction of $68,990.32. Following the completion of the transaction, the insider now directly owns 163,149 shares in the company, valued at approximately $4,031,411.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,874 shares of company stock valued at $1,273,115. 7.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CSTL. Nisa Investment Advisors LLC boosted its stake in shares of Castle Biosciences by 561.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,084 shares of the company’s stock valued at $25,000 after purchasing an additional 920 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in Castle Biosciences by 827.0% during the 3rd 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 in the last quarter. Ten Capital Wealth Advisors LLC acquired a new position in Castle Biosciences during the 4th quarter worth approximately $32,000. Assetmark Inc. boosted its position in Castle Biosciences by 215.8% during the 4th quarter. Assetmark Inc. now owns 1,500 shares of the company’s stock worth $35,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Castle Biosciences by 61.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,821 shares of the company’s stock valued at $47,000 after buying an additional 691 shares during the last quarter. Institutional investors own 82.43% of the company’s stock.

Castle Biosciences Company Profile

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Castle Biosciences, Inc is a commercial-stage dermatological cancer company, which engages in the provision of genomic information for physicians and patients. The firm offers DecisionDx-Melanoma, a proprietary multi-gene expression profile (GEP) test that predicts the risk of metastasis and recurrence for patients diagnosed with invasive cutaneous melanoma.