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

Castle Biosciences, Inc. (NASDAQ:CSTL) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,610,000 shares, a decline 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 Trading Down 0.7 %

CSTL traded down $0.20 on Monday, reaching $27.90. 376,216 shares of the company’s stock were exchanged, compared to its average volume of 327,481. The company’s 50 day moving average is $31.14 and its 200-day moving average is $26.32. The company has a market cap of $781.48 million, a price-to-earnings ratio of 140.51 and a beta of 0.99. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

Castle Biosciences (NASDAQ:CSTL) last posted its 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. The firm had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same quarter in the prior year, the company earned ($0.26) EPS. Equities analysts predict that Castle Biosciences will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CSTL. Canaccord Genuity Group upped their target price on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BTIG Research upped their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Robert W. Baird upped their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. KeyCorp upped their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Lake Street Capital upped their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $37.88.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the transaction, the insider now directly owns 94,622 shares in the company, valued at approximately $2,718,490.06. This represents a 1.03 % decrease in their position. 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 company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.44, for a total transaction of $231,604.48. Following the completion of the transaction, the director now owns 5,700 shares in the company, valued at approximately $167,808. This trade represents a 57.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,290 shares of company stock worth $545,468 in the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC grew its position in Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares in the last quarter. US Bancorp DE grew its position in Castle Biosciences by 1,889.2% in the third 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 in the last quarter. Point72 DIFC Ltd acquired a new stake in Castle Biosciences in the third quarter valued at approximately $140,000. Assetmark Inc. grew its position in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after acquiring an additional 748 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after acquiring an additional 2,093 shares in the last quarter. Institutional investors and hedge funds 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.