Castle Biosciences (NASDAQ:CSTL) Trading Down 14% - What's Next?

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) shares traded down 14% on Monday . The company traded as low as $26.00 and last traded at $26.01. 200,691 shares changed hands during trading, a decline of 53% from the average session volume of 431,023 shares. The stock had previously closed at $30.25.

Analysts Set New Price Targets

CSTL has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. BTIG Research boosted their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Stephens restated an "overweight" rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Lake Street Capital upped their target price on Castle Biosciences from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, KeyCorp raised their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $40.29.

Castle Biosciences Stock Performance

The company has a 50-day moving average of $29.81 and a 200-day moving average of $27.96. The firm has a market capitalization of $732.38 million, a price-to-earnings ratio of 130.76 and a beta of 0.92. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $85.78 million for the quarter, compared to analysts' expectations of $78.55 million. During the same period in the prior year, the company earned ($0.26) earnings per share. On average, equities research analysts forecast that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 9,364 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the sale, the insider now directly owns 84,762 shares in the company, valued at approximately $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now directly owns 54,178 shares in the company, valued at approximately $1,926,569.68. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,320 shares of company stock worth $1,036,119 over the last ninety days. Company insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On Castle Biosciences

A number of hedge funds have recently made changes to their positions in CSTL. Quest Partners LLC lifted its stake in shares of Castle Biosciences by 54.4% in the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company's stock worth $123,000 after acquiring an additional 1,522 shares during the period. US Bancorp DE lifted 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 worth $132,000 after purchasing an additional 4,383 shares during the period. Point72 DIFC Ltd bought a new position in Castle Biosciences during the 3rd quarter valued at $140,000. Assetmark Inc. increased its position in shares of Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company's stock valued at $149,000 after purchasing an additional 748 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company's stock valued at $152,000 after purchasing an additional 2,093 shares during the period. Institutional investors 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.