Castle Biosciences (NASDAQ:CSTL) Posts Earnings Results

Castle Biosciences (NASDAQ:CSTL) posted its quarterly earnings data on Monday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14, Zacks reports. The business had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same quarter last year, the firm earned ($0.26) earnings per share. Castle Biosciences updated its FY 2024 guidance to EPS.

Castle Biosciences Price Performance

CSTL traded down $0.08 during trading on Tuesday, reaching $33.56. The stock had a trading volume of 410,570 shares, compared to its average volume of 319,790. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $926.59 million, a price-to-earnings ratio of -248.86 and a beta of 0.99. The stock has a 50 day moving average of $30.66 and a two-hundred day moving average of $25.59. Castle Biosciences has a 1-year low of $16.20 and a 1-year high of $35.84.

Insiders Place Their Bets

In related news, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now directly owns 8,550 shares in the company, valued at $227,857.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Castle Biosciences news, CFO Frank Stokes sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the transaction, the chief financial officer now owns 30,823 shares in the company, valued at approximately $792,151.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the transaction, the director now directly owns 8,550 shares in the company, valued at $227,857.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,694 shares of company stock worth $820,497. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on CSTL. BTIG Research lifted their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stephens restated an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. Canaccord Genuity Group increased their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Robert W. Baird upped their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, KeyCorp upped 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. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences presently has an average rating of “Buy” and an average price target of $36.57.

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.