Castle Biosciences, Inc. (NASDAQ:CSTL) Short Interest Update

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,250,000 shares, a drop of 17.2% from the April 30th total of 1,510,000 shares. Approximately 4.8% of the company's stock are sold short. Based on an average daily trading volume, of 461,300 shares, the short-interest ratio is presently 2.7 days.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 22,639 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $20.12, for a total value of $455,496.68. Following the completion of the sale, the insider now owns 80,465 shares of the company's stock, valued at approximately $1,618,955.80. This trade represents a 21.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 27,454 shares of company stock worth $553,030 in the last three months. Company insiders own 6.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSTL. Deutsche Bank AG lifted its holdings in Castle Biosciences by 12.5% during the fourth quarter. Deutsche Bank AG now owns 67,667 shares of the company's stock valued at $1,803,000 after purchasing an additional 7,495 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of Castle Biosciences during the 4th quarter valued at approximately $2,414,000. Truist Financial Corp lifted its stake in shares of Castle Biosciences by 4.6% during the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company's stock valued at $568,000 after buying an additional 928 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Castle Biosciences by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after buying an additional 134,645 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Castle Biosciences during the fourth quarter worth $230,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CSTL. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a "buy" rating in a report on Friday, March 28th. Robert W. Baird lifted their price target on Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Lake Street Capital cut their price target on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Scotiabank cut their target price on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group cut their target price on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences presently has a consensus rating of "Buy" and an average target price of $37.00.

Castle Biosciences Stock Performance

CSTL remained flat at $17.02 during midday trading on Thursday. 343,692 shares of the company's stock were exchanged, compared to its average volume of 412,762. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $491.40 million, a PE ratio of 85.10 and a beta of 1.04. Castle Biosciences has a 52-week low of $15.45 and a 52-week high of $35.84. The business's 50-day moving average price is $18.42 and its 200-day moving average price is $23.58.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $87.99 million during the quarter, compared to analysts' expectations of $80.40 million. On average, research analysts anticipate that Castle Biosciences will post 0.44 earnings per share for the current year.

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.