Castle Biosciences, Inc. (NASDAQ:CSTL) Short Interest Up 8.7% in October

Castle Biosciences, Inc. (NASDAQ:CSTL) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 1,750,000 shares, a growth of 8.7% from the September 30th total of 1,610,000 shares. Based on an average trading volume of 413,100 shares, the short-interest ratio is currently 4.2 days.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock opened at $34.67 on Friday. Castle Biosciences has a 12 month low of $14.22 and a 12 month high of $34.73. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02. The stock has a market cap of $957.13 million, a PE ratio of -247.64 and a beta of 1.03. The business has a fifty day simple moving average of $30.50 and a 200-day simple moving average of $25.30.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. The firm had revenue of $87.00 million for the quarter, compared to analyst estimates of $69.95 million. During the same quarter in the prior year, the business earned ($0.70) EPS. On average, sell-side analysts anticipate that Castle Biosciences will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on CSTL shares. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday. Stephens restated an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. BTIG Research boosted their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Robert W. Baird increased their price target on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Castle Biosciences has a consensus rating of “Buy” and a consensus target price of $35.14.

Insider Activity

In related news, insider Derek J. Maetzold sold 986 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the sale, the insider now owns 94,622 shares of the company’s stock, valued at $2,718,490.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the transaction, the insider now directly owns 94,622 shares of the company’s stock, valued at $2,718,490.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the sale, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,694 shares of company stock worth $820,497 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in CSTL. RiverPark Advisors LLC increased its holdings in 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. US Bancorp DE grew its position in Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after acquiring an additional 4,383 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Castle Biosciences during the 1st quarter worth $186,000. Finally, First Bank & Trust bought a new position in shares of Castle Biosciences during the 3rd quarter valued at $261,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.