Castle Biosciences (NASDAQ:CSTL) Shares Gap Up to $26.51

Castle Biosciences, Inc. (NASDAQ:CSTLGet Rating) shares gapped up prior to trading on Wednesday . The stock had previously closed at $26.51, but opened at $27.58. Castle Biosciences shares last traded at $27.99, with a volume of 1,862 shares traded.

Analyst Ratings Changes

CSTL has been the subject of several recent research reports. Robert W. Baird lifted their price target on Castle Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 9th. BTIG Research lifted their price target on Castle Biosciences to $47.00 in a research report on Monday, August 15th. Finally, SVB Leerink lifted their price target on Castle Biosciences from $45.00 to $50.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $58.86.

Castle Biosciences Stock Down 5.8 %

The company’s 50 day simple moving average is $28.98 and its 200-day simple moving average is $27.88. The firm has a market cap of $657.43 million, a P/E ratio of -14.29 and a beta of 1.14.

Castle Biosciences (NASDAQ:CSTLGet Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.52. Castle Biosciences had a negative net margin of 40.37% and a negative return on equity of 9.81%. The firm had revenue of $34.84 million during the quarter, compared to the consensus estimate of $28.40 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. Equities research analysts predict that Castle Biosciences, Inc. will post -2.81 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel Bradbury sold 7,704 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $27.47, for a total value of $211,628.88. Following the completion of the transaction, the director now owns 238,059 shares of the company’s stock, valued at $6,539,480.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Castle Biosciences news, Director Daniel Bradbury sold 7,704 shares of Castle Biosciences stock in a transaction on Monday, August 1st. The shares were sold at an average price of $27.47, for a total value of $211,628.88. Following the transaction, the director now directly owns 238,059 shares of the company’s stock, valued at $6,539,480.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Derek J. Maetzold sold 4,118 shares of Castle Biosciences stock in a transaction on Monday, August 29th. The stock was sold at an average price of $29.56, for a total transaction of $121,728.08. Following the completion of the transaction, the insider now directly owns 312,414 shares in the company, valued at $9,234,957.84. The disclosure for this sale can be found here. Insiders sold 18,617 shares of company stock valued at $526,462 over the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Commerce Bank purchased a new position in Castle Biosciences in the fourth quarter worth $226,000. Redwood Investments LLC boosted its holdings in Castle Biosciences by 116.3% in the first quarter. Redwood Investments LLC now owns 375,892 shares of the company’s stock valued at $16,863,000 after purchasing an additional 202,099 shares during the last quarter. Capital Impact Advisors LLC boosted its holdings in Castle Biosciences by 46.3% in the fourth quarter. Capital Impact Advisors LLC now owns 24,429 shares of the company’s stock valued at $1,047,000 after purchasing an additional 7,726 shares during the last quarter. Advisors Capital Management LLC raised its position in shares of Castle Biosciences by 3.6% in the first quarter. Advisors Capital Management LLC now owns 17,630 shares of the company’s stock worth $791,000 after acquiring an additional 617 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Castle Biosciences by 16.0% in the first quarter. Envestnet Asset Management Inc. now owns 38,776 shares of the company’s stock worth $1,739,000 after acquiring an additional 5,337 shares during the period. 86.08% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Company Profile

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Castle Biosciences, Inc, a commercial-stage diagnostics company, focuses to provide diagnostic and prognostic testing services for dermatological cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma.

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