Castle Biosciences (NASDAQ:CSTL) Issues Earnings Results

Castle Biosciences (NASDAQ:CSTL) released its quarterly earnings results on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47, Yahoo Finance reports. The business had revenue of $87.00 million during the quarter, compared to the consensus estimate of $69.95 million. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%. During the same quarter in the previous year, the business earned ($0.70) EPS. Castle Biosciences updated its FY 2024 guidance to EPS.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $24.90 on Wednesday. The company has a 50-day simple moving average of $21.42 and a two-hundred day simple moving average of $21.90. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12-month low of $12.07 and a 12-month high of $28.22. The firm has a market cap of $687.41 million, a price-to-earnings ratio of -21.65 and a beta of 0.93.

Analyst Ratings Changes

CSTL has been the subject of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday. Robert W. Baird boosted their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.80.

Insider Buying and Selling at Castle Biosciences

In other news, COO Kristen M. Oelschlager sold 2,793 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the completion of the transaction, the chief operating officer now directly owns 145,825 shares of the company’s stock, valued at $3,216,899.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Castle Biosciences news, insider Derek J. Maetzold sold 2,368 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $23.40, for a total transaction of $55,411.20. Following the completion of the transaction, the insider now owns 57,893 shares of the company’s stock, valued at $1,354,696.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kristen M. Oelschlager sold 2,793 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the sale, the chief operating officer now owns 145,825 shares in the company, valued at approximately $3,216,899.50. The disclosure for this sale can be found here. Insiders sold a total of 18,150 shares of company stock worth $416,551 over the last three months. Company insiders own 7.20% 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.