Castle Biosciences (NASDAQ:CSTL) Stock Price Up 6.3%

Castle Biosciences, Inc. (NASDAQ:CSTL) shot up 6.3% during mid-day trading on Monday . The company traded as high as $21.62 and last traded at $21.62. 44,329 shares were traded during trading, a decline of 81% from the average session volume of 227,459 shares. The stock had previously closed at $20.34.

Analyst Ratings Changes

CSTL has been the subject of a number of research reports. KeyCorp lifted their price target on Castle Biosciences from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Scotiabank increased their target price on Castle Biosciences from $33.00 to $37.00 and gave the stock a “sector outperform” rating in a research report on Friday, March 1st.

Castle Biosciences Price Performance

The firm’s 50-day simple moving average is $21.09 and its 200 day simple moving average is $20.10.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.74. The company had revenue of $66.12 million during the quarter, compared to the consensus estimate of $51.32 million. Castle Biosciences had a negative return on equity of 14.92% and a negative net margin of 26.15%. On average, equities analysts anticipate that Castle Biosciences, Inc. will post -2.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel Bradbury sold 23,323 shares of Castle Biosciences stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $20.68, for a total value of $482,319.64. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $535,756.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Daniel Bradbury sold 23,323 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $20.68, for a total value of $482,319.64. Following the completion of the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $535,756.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 4,131 shares of Castle Biosciences stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $21.41, for a total value of $88,444.71. Following the transaction, the insider now directly owns 74,473 shares in the company, valued at approximately $1,594,466.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,483 shares of company stock worth $1,059,531. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in Castle Biosciences by 21.3% in the fourth quarter. Assetmark Inc. now owns 4,736 shares of the company’s stock worth $102,000 after buying an additional 832 shares during the last quarter. Numerai GP LLC increased its stake in shares of Castle Biosciences by 1.4% during the 3rd quarter. Numerai GP LLC now owns 68,163 shares of the company’s stock worth $1,151,000 after purchasing an additional 963 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Castle Biosciences by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 81,141 shares of the company’s stock valued at $1,370,000 after purchasing an additional 1,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Castle Biosciences by 20.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,192 shares of the company’s stock valued at $177,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Millrace Asset Group Inc. boosted its holdings in Castle Biosciences by 2.1% in the fourth quarter. Millrace Asset Group Inc. now owns 78,914 shares of the company’s stock worth $1,703,000 after purchasing an additional 1,599 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.