Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $37.88 Average PT from Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given an average rating of “Buy” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $37.88.

CSTL has been the topic of a number of analyst reports. Lake Street Capital upped their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird upped their price objective on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. BTIG Research increased their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Scotiabank boosted their price target on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Stephens reiterated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, August 6th.

Castle Biosciences Price Performance

Shares of CSTL stock opened at $33.29 on Friday. Castle Biosciences has a 12 month low of $16.20 and a 12 month high of $35.84. The company has a market capitalization of $932.35 million, a P/E ratio of 166.45 and a beta of 0.99. The stock has a 50 day moving average of $30.92 and a two-hundred day moving average of $25.91. The company has a current ratio of 7.78, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same quarter in the previous year, the company earned ($0.26) earnings per share. As a group, equities analysts expect that Castle Biosciences will post -0.08 EPS for the current year.

Insider Activity

In related news, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. 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 is available at this link. In related news, insider Tobin W. Juvenal sold 3,507 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the transaction, the insider now owns 54,178 shares in the company, valued at approximately $1,926,569.68. 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 this link. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction on 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 sale, the director now owns 5,700 shares in the company, valued at approximately $167,808. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,318 shares of company stock valued at $478,124 in the last 90 days. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in Castle Biosciences by 89.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,862 shares of the company’s stock valued at $241,000 after buying an additional 5,123 shares in the last quarter. Norden Group LLC bought a new stake in shares of Castle Biosciences in the first quarter valued at about $547,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Castle Biosciences during the first quarter worth about $249,000. Vanguard Group Inc. raised its position in Castle Biosciences by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after buying an additional 32,695 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Castle Biosciences by 130.7% in the 1st quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock valued at $4,669,000 after acquiring an additional 119,443 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.