Castle Biosciences (NASDAQ:CSTL) Posts Quarterly Earnings Results

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

Castle Biosciences Stock Up 4.8 %

Shares of NASDAQ:CSTL opened at $32.66 on Thursday. Castle Biosciences has a 1 year low of $16.20 and a 1 year high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92. The business’s 50-day moving average is $30.78 and its 200-day moving average is $25.72. The company has a market capitalization of $901.64 million, a price-to-earnings ratio of 163.30 and a beta of 0.99.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,972 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $32.27, for a total transaction of $63,636.44. Following the transaction, the insider now directly owns 91,664 shares in the company, valued at approximately $2,957,997.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $32.27, for a total value of $63,636.44. Following the completion of the sale, the insider now directly owns 91,664 shares of the company’s stock, valued at $2,957,997.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,694 shares of company stock valued at $563,497 over the last 90 days. Company insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CSTL. Robert W. Baird boosted their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday. KeyCorp upped their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday. BTIG Research boosted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stephens reaffirmed an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Finally, Canaccord Genuity Group boosted their price objective 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $37.88.

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.