Castle Biosciences (NASDAQ:CSTL) Shares Gap Down to $73.39

Castle Biosciences, Inc. (NASDAQ:CSTL) shares gapped down before the market opened on Tuesday . The stock had previously closed at $73.39, but opened at $71.67. Castle Biosciences shares last traded at $73.89, with a volume of 2,232 shares traded.

CSTL has been the subject of several analyst reports. Canaccord Genuity boosted their target price on Castle Biosciences from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, January 26th. Zacks Investment Research lowered shares of Castle Biosciences from a “hold” rating to a “sell” rating in a report on Thursday, March 11th. BTIG Research lifted their price target on shares of Castle Biosciences from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, December 17th. Robert W. Baird lowered their price objective on shares of Castle Biosciences from $87.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, March 9th. Finally, SVB Leerink lifted their target price on Castle Biosciences from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, January 15th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.50.

The company’s fifty day moving average price is $71.50 and its two-hundred day moving average price is $64.11. The company has a quick ratio of 6.59, a current ratio of 6.65 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -414.92 and a beta of 0.46.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Sunday, March 7th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.12). The company had revenue of $17.30 million during the quarter, compared to the consensus estimate of $15.74 million. Castle Biosciences had a negative net margin of 5.30% and a negative return on equity of 2.69%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 earnings per share. On average, equities research analysts predict that Castle Biosciences, Inc. will post -0.4 earnings per share for the current fiscal year.

In other Castle Biosciences news, CFO Frank Stokes sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $78.14, for a total transaction of $586,050.00. Following the completion of the transaction, the chief financial officer now owns 11,386 shares of the company’s stock, valued at approximately $889,702.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Bradbury sold 12,113 shares of the firm’s stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $78.29, for a total transaction of $948,326.77. The disclosure for this sale can be found here. Insiders sold a total of 423,993 shares of company stock worth $29,946,557 in the last three months. Company insiders own 39.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CSTL. BlackRock Inc. raised its stake in shares of Castle Biosciences by 21.6% during the 3rd quarter. BlackRock Inc. now owns 999,662 shares of the company’s stock worth $51,433,000 after purchasing an additional 177,685 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Castle Biosciences by 6.3% during the third quarter. The Manufacturers Life Insurance Company now owns 6,703 shares of the company’s stock worth $345,000 after acquiring an additional 396 shares in the last quarter. State Street Corp lifted its stake in Castle Biosciences by 11.4% in the third quarter. State Street Corp now owns 208,120 shares of the company’s stock valued at $10,708,000 after acquiring an additional 21,262 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Castle Biosciences by 57.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 259,137 shares of the company’s stock valued at $13,333,000 after acquiring an additional 95,058 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Castle Biosciences by 268.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 85,526 shares of the company’s stock valued at $4,401,000 after acquiring an additional 62,304 shares during the period. Hedge funds and other institutional investors own 66.42% of the company’s stock.

About Castle Biosciences (NASDAQ:CSTL)

Castle Biosciences, Inc, a commercial-stage dermatological cancer, develops and commercializes diagnostic and prognostic tests for cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify stage I and II patients at high risk of metastasis based on biological information from 31 genes within their tumor tissue.

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