Castle Biosciences, Inc. (NASDAQ:CSTL) Short Interest Up 7.6% in November

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 1,840,000 shares, a growth of 7.6% from the November 15th total of 1,710,000 shares. Based on an average trading volume of 390,900 shares, the days-to-cover ratio is presently 4.7 days.

Insiders Place Their Bets

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.44, for a total value of $231,604.48. Following the completion of the sale, the director now directly owns 5,700 shares of the company's stock, valued at approximately $167,808. The trade was a 57.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of the company's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares of the company's stock, valued at $2,718,490.06. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,185 shares of company stock worth $814,495. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Castle Biosciences

Several large investors have recently added to or reduced their stakes in CSTL. Principal Financial Group Inc. boosted its holdings in shares of Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company's stock worth $43,879,000 after buying an additional 40,377 shares during the period. Bellevue Group AG boosted its stake in Castle Biosciences by 3.7% during the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company's stock valued at $35,993,000 after purchasing an additional 44,929 shares during the period. Portolan Capital Management LLC grew its holdings in Castle Biosciences by 3.7% in the 3rd quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company's stock valued at $35,811,000 after buying an additional 44,676 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Castle Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company's stock worth $17,631,000 after buying an additional 60,675 shares during the period. Finally, State Street Corp boosted its position in shares of Castle Biosciences by 9.8% in the third quarter. State Street Corp now owns 680,001 shares of the company's stock valued at $19,394,000 after acquiring an additional 60,924 shares during the period. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Price Performance

Castle Biosciences stock traded down $0.66 during midday trading on Tuesday, hitting $28.14. The company's stock had a trading volume of 220,398 shares, compared to its average volume of 326,865. Castle Biosciences has a 12 month low of $16.97 and a 12 month high of $35.84. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The stock's 50-day moving average price is $31.24 and its 200-day moving average price is $27.21. The company has a market capitalization of $788.12 million, a PE ratio of 140.70 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. The company had revenue of $85.78 million for the quarter, compared to analysts' expectations of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter in the previous year, the business posted ($0.26) EPS. Analysts anticipate that Castle Biosciences will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSTL. BTIG Research lifted their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Robert W. Baird upped their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Lake Street Capital boosted their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. KeyCorp upped their target price on Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group raised their target price on Castle Biosciences from $35.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $39.71.

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.