Frank Stokes Sells 6,923 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) Stock

Castle Biosciences, Inc. (NASDAQ:CSTL) CFO Frank Stokes sold 6,923 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the completion of the transaction, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at $922,532.39. This represents a 18.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Castle Biosciences Trading Up 3.5 %

NASDAQ CSTL traded up $0.97 during trading hours on Tuesday, hitting $28.87. 326,414 shares of the company were exchanged, compared to its average volume of 327,476. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $31.11 and a 200 day moving average price of $26.36. The stock has a market cap of $808.65 million, a PE ratio of 139.51 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same quarter in the prior year, the firm posted ($0.26) EPS. Analysts forecast that Castle Biosciences, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Castle Biosciences

A number of large investors have recently made changes to their positions in CSTL. State Board of Administration of Florida Retirement System bought a new position in Castle Biosciences in the 1st quarter worth about $249,000. Vanguard Group Inc. grew its position in shares of Castle Biosciences by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after buying an additional 32,695 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Castle Biosciences by 130.7% during the 1st quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after buying an additional 119,443 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Castle Biosciences by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock valued at $400,000 after buying an additional 1,131 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in Castle Biosciences by 249.3% in the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after acquiring an additional 99,001 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSTL has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Robert W. Baird increased their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Lake Street Capital boosted their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Finally, KeyCorp raised their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.88.

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.