Castle Biosciences (NASDAQ:CSTL) Hits New 1-Year High at $30.50

Castle Biosciences, Inc. (NASDAQ:CSTL) shares reached a new 52-week high during trading on Friday . The stock traded as high as $30.50 and last traded at $29.92, with a volume of 7486 shares traded. The stock had previously closed at $29.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CSTL. Stephens restated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, August 6th. Robert W. Baird increased their price target on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $32.80.

Castle Biosciences Price Performance

The stock has a 50-day moving average price of $23.25 and a two-hundred day moving average price of $22.57. The company has a current ratio of 9.25, a quick ratio of 9.02 and a debt-to-equity ratio of 0.02. The stock has a market cap of $819.10 million, a price-to-earnings ratio of -25.80 and a beta of 0.93.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.47. The business had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%. During the same quarter last year, the company earned ($0.70) earnings per share. As a group, equities research analysts forecast that Castle Biosciences, Inc. will post -1.66 EPS for the current year.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,368 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $23.40, for a total value of $55,411.20. Following the completion of the transaction, the insider now owns 57,893 shares in the company, valued at approximately $1,354,696.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now directly owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 2,368 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $23.40, for a total transaction of $55,411.20. Following the transaction, the insider now directly owns 57,893 shares of the company’s stock, valued at approximately $1,354,696.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,033 shares of company stock worth $883,633. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC boosted its stake in shares of Castle Biosciences by 362.2% in the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after buying an additional 2,242 shares during the last quarter. Assetmark Inc. grew its stake in shares of Castle Biosciences by 21.3% during the 4th quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock worth $102,000 after purchasing an additional 832 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Castle Biosciences by 70.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock worth $117,000 after purchasing an additional 2,187 shares during the period. WuXi AppTec Co. Ltd. purchased a new position in shares of Castle Biosciences during the 4th quarter valued at approximately $143,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Castle Biosciences by 20.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,192 shares of the company’s stock valued at $177,000 after purchasing an additional 1,395 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

About Castle Biosciences

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.