Castle Biosciences (NASDAQ:CSTL) Releases Earnings Results, Beats Estimates By $0.14 EPS

Castle Biosciences (NASDAQ:CSTL) posted its quarterly earnings results on Monday. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14, Zacks reports. The business had revenue of $85.78 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned ($0.26) earnings per share. Castle Biosciences updated its FY 2024 guidance to EPS.

Castle Biosciences Stock Performance

Shares of CSTL stock traded up $3.06 during trading on Wednesday, hitting $34.21. The company’s stock had a trading volume of 86,507 shares, compared to its average volume of 321,419. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $944.54 million, a PE ratio of -222.50 and a beta of 0.99. The business has a fifty day moving average of $30.70 and a 200-day moving average of $25.67. Castle Biosciences has a 52 week low of $16.20 and a 52 week high of $35.84.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares in the company, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the completion of the transaction, the director now owns 5,700 shares of the company’s stock, valued at approximately $167,808. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the completion of the transaction, the insider now directly owns 94,622 shares in the company, valued at $2,718,490.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,694 shares of company stock valued at $563,497. Insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

CSTL has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their price target on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Lake Street Capital boosted their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens restated an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. BTIG Research increased their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, KeyCorp lifted their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $37.00.

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.