Castle Biosciences, Inc. (NASDAQ:CSTL) Director Daniel Bradbury Sells 7,867 Shares

Castle Biosciences, Inc. (NASDAQ:CSTL) Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $29.14, for a total transaction of $229,244.38. Following the transaction, the director now owns 1,425 shares of the company’s stock, valued at approximately $41,524.50. This represents a 84.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Castle Biosciences Stock Up 1.7 %

Castle Biosciences stock opened at $32.72 on Thursday. The firm has a market cap of $916.39 million, a price-to-earnings ratio of 163.61 and a beta of 0.92. Castle Biosciences, Inc. has a 52-week low of $16.97 and a 52-week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The firm has a 50 day moving average price of $29.91 and a two-hundred day moving average price of $27.78.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same quarter last year, the firm earned ($0.26) earnings per share. Equities analysts predict that Castle Biosciences, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. increased its holdings in Castle Biosciences by 828.3% in the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after purchasing an additional 445,415 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Castle Biosciences by 116.5% in the 2nd quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock valued at $4,616,000 after acquiring an additional 114,104 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Castle Biosciences by 147.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after acquiring an additional 98,571 shares during the period. Renaissance Technologies LLC boosted its stake in Castle Biosciences by 47.3% during the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after acquiring an additional 96,800 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Castle Biosciences by 33.0% in the second quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock valued at $6,101,000 after purchasing an additional 69,673 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSTL. Stephens reiterated an “overweight” rating and issued a $41.00 price target on shares of Castle Biosciences in a research note on Thursday, January 2nd. Canaccord Genuity Group lifted their price target on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Lake Street Capital upped their price objective on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Scotiabank lifted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird upped their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Company Profile

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.