Castle Biosciences, Inc. (NASDAQ:CSTL) Short Interest Down 8.0% in October

Castle Biosciences, Inc. (NASDAQ:CSTL) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,610,000 shares, a decrease of 8.0% from the October 15th total of 1,750,000 shares. Based on an average daily trading volume, of 390,600 shares, the short-interest ratio is presently 4.1 days.

Castle Biosciences Stock Down 0.7 %

Shares of NASDAQ CSTL traded down $0.20 during midday trading on Monday, hitting $27.90. The company’s stock had a trading volume of 376,216 shares, compared to its average volume of 327,481. The business’s fifty day simple moving average is $31.14 and its two-hundred day simple moving average is $26.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84. The firm has a market capitalization of $781.48 million, a price-to-earnings ratio of 140.51 and a beta of 0.99.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CSTL shares. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Scotiabank lifted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Lake Street Capital lifted their price target on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted 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. Finally, Stephens reiterated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $37.88.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.15, for a total transaction of $67,343.80. Following the completion of the sale, the insider now directly owns 87,720 shares in the company, valued at approximately $2,995,638. This trade represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the sale, the director now owns 5,700 shares of the company’s stock, valued at approximately $167,808. The trade was a 57.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,290 shares of company stock valued at $545,468. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC lifted its stake in Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after acquiring an additional 1,522 shares during the last quarter. US Bancorp DE increased its holdings in shares of Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after acquiring an additional 4,383 shares during the period. Point72 DIFC Ltd acquired a new position in Castle Biosciences in the 3rd quarter valued at $140,000. Assetmark Inc. increased its stake in Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after buying an additional 748 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in Castle Biosciences by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after buying an additional 2,093 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.