BTIG Research Increases Castle Biosciences (NASDAQ:CSTL) Price Target to $40.00

Castle Biosciences (NASDAQ:CSTL) had its price target hoisted by BTIG Research from $35.00 to $40.00 in a research report report published on Monday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other research firms also recently commented on CSTL. Stephens restated an overweight rating and set a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, August 6th. Robert W. Baird increased their price target on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an outperform rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $34.00.

Castle Biosciences Stock Up 9.4 %

CSTL stock opened at $34.26 on Monday. The stock has a market capitalization of $945.82 million, a price-to-earnings ratio of -29.79 and a beta of 1.03. The company has a 50-day moving average of $28.99 and a two-hundred day moving average of $24.29. Castle Biosciences has a 52-week low of $12.23 and a 52-week high of $34.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47. The firm had revenue of $87.00 million for the quarter, compared to analyst estimates of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same quarter last year, the firm posted ($0.70) EPS. As a group, equities research analysts anticipate that Castle Biosciences will post -0.58 EPS for the current year.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the sale, the insider now owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the transaction, the director now directly owns 8,550 shares in the company, valued at $227,857.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the transaction, the insider now owns 94,622 shares in the company, valued at approximately $2,718,490.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,504 shares of company stock valued at $1,118,000 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSTL. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 32,695 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Castle Biosciences by 130.7% during the first quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after buying an additional 119,443 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Castle Biosciences by 249.3% during the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after buying an additional 99,001 shares in the last quarter. Summit Global Investments bought a new position in shares of Castle Biosciences in the 2nd quarter valued at $518,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Castle Biosciences during the second quarter valued at about $588,000. Institutional investors 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.