Castle Biosciences (NASDAQ:CSTL) Announces Earnings Results

Castle Biosciences (NASDAQ:CSTL) issued its quarterly earnings data on Monday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.32, Zacks reports. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.75%. The firm had revenue of $83.04 million for the quarter, compared to analysts’ expectations of $71.06 million. Castle Biosciences updated its FY 2025 guidance to EPS.

Castle Biosciences Stock Performance

CSTL stock traded up $2.11 during trading on Wednesday, hitting $33.74. 332,282 shares of the company traded hands, compared to its average volume of 453,097. Castle Biosciences has a 1 year low of $14.59 and a 1 year high of $34.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69. The stock’s 50-day simple moving average is $23.45 and its 200 day simple moving average is $20.17. The company has a market cap of $978.80 million, a PE ratio of -74.97 and a beta of 1.12.

Analyst Ratings Changes

CSTL has been the subject of several research analyst reports. BTIG Research increased their target price on Castle Biosciences from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday. Canaccord Genuity Group restated a “buy” rating and set a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, September 9th. Wall Street Zen upgraded shares of Castle Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Robert W. Baird lifted their price target on Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.43.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,339 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $22.44, for a total value of $30,047.16. Following the completion of the sale, the insider owned 62,988 shares of the company’s stock, valued at approximately $1,413,450.72. The trade was a 2.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kristen M. Oelschlager sold 12,678 shares of Castle Biosciences stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $25.04, for a total transaction of $317,457.12. Following the transaction, the chief operating officer directly owned 27,569 shares in the company, valued at $690,327.76. This trade represents a 31.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 15,356 shares of company stock worth $376,922. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Castle Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi lifted its stake in shares of Castle Biosciences by 15,811.5% in the first quarter. Amundi now owns 4,137 shares of the company’s stock valued at $79,000 after purchasing an additional 4,111 shares during the period. AQR Capital Management LLC lifted its stake in shares of Castle Biosciences by 548.9% during the 1st quarter. AQR Capital Management LLC now owns 137,022 shares of the company’s stock worth $2,743,000 after purchasing an additional 115,907 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Castle Biosciences by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company’s stock worth $309,000 after acquiring an additional 655 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after buying an additional 2,648 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Castle Biosciences by 34.7% in the 2nd quarter. Legal & General Group Plc now owns 34,908 shares of the company’s stock worth $713,000 after buying an additional 8,992 shares during the period. Hedge funds and other institutional investors 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.