Castle Biosciences (NASDAQ:CSTL) Stock Price Up 5.4%

Castle Biosciences, Inc. (NASDAQ:CSTL)’s share price was up 5.4% on Tuesday . The company traded as high as $21.96 and last traded at $21.94. Approximately 62,724 shares changed hands during trading, a decline of 76% from the average daily volume of 256,089 shares. The stock had previously closed at $20.82.

Analyst Upgrades and Downgrades

CSTL has been the subject of a number of recent research reports. Guggenheim initiated coverage on shares of Castle Biosciences in a report on Thursday, December 14th. They issued a “buy” rating and a $25.00 price objective for the company. KeyCorp increased their price objective on Castle Biosciences from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Scotiabank boosted their target price on Castle Biosciences from $33.00 to $37.00 and gave the stock a “sector outperform” rating in a report on Friday, March 1st.

Castle Biosciences Price Performance

The company has a market capitalization of $608.02 million, a P/E ratio of -10.37 and a beta of 0.90. The stock’s fifty day simple moving average is $22.05 and its 200-day simple moving average is $19.44.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.74. Castle Biosciences had a negative return on equity of 14.92% and a negative net margin of 26.15%. The firm had revenue of $66.12 million for the quarter, compared to analyst estimates of $51.32 million. On average, research analysts predict that Castle Biosciences, Inc. will post -3.01 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 2,295 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $20.27, for a total transaction of $46,519.65. Following the completion of the transaction, the insider now owns 69,806 shares in the company, valued at approximately $1,414,967.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Derek J. Maetzold sold 2,295 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $20.27, for a total transaction of $46,519.65. Following the completion of the sale, the insider now owns 69,806 shares in the company, valued at approximately $1,414,967.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Bradbury sold 18,223 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $20.40, for a total transaction of $371,749.20. Following the sale, the director now directly owns 43,574 shares in the company, valued at $888,909.60. The disclosure for this sale can be found here. Insiders sold a total of 52,418 shares of company stock valued at $1,086,416 over the last ninety days. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CSTL. Price T Rowe Associates Inc. MD increased its stake in shares of Castle Biosciences by 2.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,903 shares of the company’s stock valued at $365,000 after buying an additional 428 shares in the last quarter. American International Group Inc. grew its holdings in Castle Biosciences by 5.2% during the 2nd quarter. American International Group Inc. now owns 11,130 shares of the company’s stock worth $244,000 after acquiring an additional 552 shares during the last quarter. First Republic Investment Management Inc. increased its position in Castle Biosciences by 6.2% in the 1st quarter. First Republic Investment Management Inc. now owns 10,770 shares of the company’s stock valued at $245,000 after acquiring an additional 631 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Castle Biosciences by 4.9% in the first quarter. Baird Financial Group Inc. now owns 14,349 shares of the company’s stock worth $644,000 after acquiring an additional 674 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Castle Biosciences by 61.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,821 shares of the company’s stock worth $47,000 after purchasing an additional 691 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.