Castle Biosciences (NASDAQ:CSTL) Issues Quarterly Earnings Results

Castle Biosciences (NASDAQ:CSTL) issued its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.33, Zacks reports. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. Castle Biosciences updated its FY 2025 guidance to EPS.

Castle Biosciences Price Performance

NASDAQ:CSTL traded up $0.49 during mid-day trading on Monday, reaching $25.99. The stock had a trading volume of 1,073,541 shares, compared to its average volume of 448,669. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.69 and a current ratio of 6.85. The stock has a market capitalization of $753.92 million, a P/E ratio of -74.26 and a beta of 1.13. The firm has a 50 day moving average price of $23.14 and a two-hundred day moving average price of $20.07. Castle Biosciences has a one year low of $14.59 and a one year high of $35.84.

Wall Street Analysts Forecast Growth

CSTL has been the subject of several recent research reports. Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Wall Street Zen upgraded shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Castle Biosciences in a research note on Thursday. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.57.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,339 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $22.44, for a total value of $30,047.16. Following the transaction, the insider owned 62,988 shares in the company, valued at approximately $1,413,450.72. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock valued at $54,000 after acquiring an additional 2,648 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Castle Biosciences by 256.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,791 shares of the company’s stock valued at $57,000 after purchasing an additional 2,009 shares in the last quarter. Amundi raised its holdings in Castle Biosciences by 15,811.5% in the first quarter. Amundi now owns 4,137 shares of the company’s stock worth $79,000 after buying an additional 4,111 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Castle Biosciences in the 2nd quarter valued at approximately $211,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Castle Biosciences by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company’s stock valued at $309,000 after purchasing an additional 655 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.