Short Interest in Castle Biosciences (NASDAQ:CSTL) Grows By 40.3%

Castle Biosciences (NASDAQ:CSTL) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 733,800 shares, an increase of 40.3% from the September 15th total of 522,900 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average trading volume of 175,600 shares, the days-to-cover ratio is presently 4.2 days.

In other Castle Biosciences news, insider Derek J. Maetzold sold 13,500 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $41.23, for a total transaction of $556,605.00. Also, insider Bernhard E. Spiess sold 25,112 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $47.41, for a total value of $1,190,559.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 569,941 shares of company stock worth $27,821,561. 39.70% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can purchased a new position in Castle Biosciences during the 2nd quarter valued at about $36,000. Legal & General Group Plc grew its stake in shares of Castle Biosciences by 111.5% in the 1st quarter. Legal & General Group Plc now owns 1,457 shares of the company’s stock valued at $43,000 after buying an additional 768 shares in the last quarter. First Quadrant L P CA bought a new stake in shares of Castle Biosciences in the 2nd quarter valued at approximately $70,000. Deutsche Bank AG grew its stake in shares of Castle Biosciences by 153.7% in the 1st quarter. Deutsche Bank AG now owns 3,333 shares of the company’s stock valued at $99,000 after buying an additional 2,019 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Castle Biosciences by 82.1% in the 1st quarter. Citigroup Inc. now owns 3,785 shares of the company’s stock valued at $113,000 after buying an additional 1,707 shares in the last quarter. 59.99% of the stock is currently owned by institutional investors.

Several research firms have issued reports on CSTL. BidaskClub downgraded Castle Biosciences from a “buy” rating to a “hold” rating in a report on Saturday. SVB Leerink boosted their price objective on Castle Biosciences from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, September 25th. Canaccord Genuity boosted their price objective on Castle Biosciences from $52.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Finally, Zacks Investment Research upgraded Castle Biosciences from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Monday, October 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $51.00.

NASDAQ:CSTL traded down $0.82 on Friday, hitting $49.97. 122,842 shares of the company’s stock traded hands, compared to its average volume of 184,905. The company has a current ratio of 6.93, a quick ratio of 6.87 and a debt-to-equity ratio of 0.09. Castle Biosciences has a 1 year low of $15.26 and a 1 year high of $55.31. The firm has a 50-day moving average price of $50.04 and a 200-day moving average price of $40.13. The company has a market cap of $983.51 million, a PE ratio of 454.31 and a beta of 0.39.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, August 10th. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.33. Castle Biosciences had a return on equity of 1.83% and a net margin of 11.35%. The company had revenue of $12.72 million for the quarter, compared to analysts’ expectations of $9.15 million. On average, research analysts forecast that Castle Biosciences will post -0.11 EPS for the current fiscal year.

Castle Biosciences Company Profile

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.

Featured Article: Why investors pay attention to retained earnings

Receive News & Ratings for Castle Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castle Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.