Castle Biosciences (NASDAQ:CSTL) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 273,300 shares, a decline of 5.6% from the September 30th total of 289,500 shares. Based on an average trading volume of 127,700 shares, the days-to-cover ratio is presently 2.1 days. Currently, 3.0% of the shares of the stock are short sold.
A number of hedge funds and other institutional investors have recently modified their holdings of CSTL. Dean Capital Investments Management LLC bought a new position in shares of Castle Biosciences in the 3rd quarter worth $507,000. Essex Investment Management Co. LLC bought a new position in shares of Castle Biosciences in the 3rd quarter worth $963,000. Chartwell Investment Partners LLC bought a new position in shares of Castle Biosciences in the 3rd quarter worth $672,000. Perkins Capital Management Inc. bought a new position in shares of Castle Biosciences in the 3rd quarter worth $505,000. Finally, Monarch Partners Asset Management LLC bought a new position in shares of Castle Biosciences in the 3rd quarter worth $300,000. 3.80% of the stock is owned by institutional investors and hedge funds.
Shares of Castle Biosciences stock traded up $0.21 on Monday, reaching $27.00. The company had a trading volume of 3,606 shares, compared to its average volume of 134,156. The company has a debt-to-equity ratio of 0.26, a quick ratio of 11.80 and a current ratio of 11.89. The firm’s 50-day simple moving average is $21.49. Castle Biosciences has a 1 year low of $15.26 and a 1 year high of $30.27.
Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.33. The business had revenue of $14.78 million for the quarter, compared to analysts’ expectations of $10.28 million. Sell-side analysts predict that Castle Biosciences will post -1.19 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. Svb Leerink assumed coverage on Castle Biosciences in a research note on Monday, August 19th. They issued an “outperform” rating and a $28.00 price objective on the stock. Leerink Swann set a $33.00 price objective on Castle Biosciences and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Canaccord Genuity lifted their price objective on Castle Biosciences from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird lifted their price objective on Castle Biosciences from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research raised Castle Biosciences from a “sell” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Monday, November 18th. Six investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $31.67.
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.
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