Castle Biosciences (NASDAQ:CSTL) Shares Down 4% - What's Next?

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) traded down 4% during trading on Thursday . The company traded as low as $17.87 and last traded at $17.93. 116,817 shares were traded during trading, a decline of 72% from the average session volume of 418,991 shares. The stock had previously closed at $18.68.

Wall Street Analyst Weigh In

CSTL has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their target price on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Scotiabank lowered their price target on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 21st. Lake Street Capital decreased their target price on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences has an average rating of "Buy" and a consensus price target of $37.00.

Castle Biosciences Trading Up 1.1%

The stock has a market capitalization of $482.71 million, a PE ratio of -88.00 and a beta of 1.10. The company has a current ratio of 9.37, a quick ratio of 9.19 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $18.09 and a 200-day moving average price of $21.37.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a negative net margin of 1.46% and a positive return on equity of 3.41%. The firm had revenue of $87.99 million during the quarter, compared to analysts' expectations of $80.40 million. Sell-side analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Castle Biosciences

Several large investors have recently bought and sold shares of CSTL. Truist Financial Corp boosted its holdings in shares of Castle Biosciences by 7.7% in the 2nd quarter. Truist Financial Corp now owns 24,023 shares of the company's stock valued at $491,000 after purchasing an additional 1,715 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Castle Biosciences by 22.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,399 shares of the company's stock valued at $417,000 after acquiring an additional 3,804 shares in the last quarter. First Bank & Trust lifted its holdings in shares of Castle Biosciences by 31.8% during the 2nd quarter. First Bank & Trust now owns 19,951 shares of the company's stock valued at $407,000 after acquiring an additional 4,815 shares in the last quarter. Strs Ohio acquired a new position in shares of Castle Biosciences during the 1st quarter valued at $366,000. Finally, Advisors Capital Management LLC lifted its holdings in shares of Castle Biosciences by 12.7% during the 1st quarter. Advisors Capital Management LLC now owns 201,687 shares of the company's stock valued at $4,038,000 after acquiring an additional 22,752 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

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.