Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) Price Target at $32.80

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $34.00.

CSTL has been the topic of a number of research reports. Stephens reiterated an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. BTIG Research upped their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Robert W. Baird increased their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th.

Castle Biosciences Trading Down 1.3 %

Castle Biosciences stock opened at $32.64 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The stock has a 50-day simple moving average of $29.52 and a 200 day simple moving average of $24.57. The stock has a market capitalization of $901.09 million, a P/E ratio of -28.38 and a beta of 1.03. Castle Biosciences has a 52 week low of $12.23 and a 52 week high of $34.50.

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

Insiders Place Their Bets

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 2,793 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the transaction, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Kristen M. Oelschlager sold 12,989 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $23.06, for a total transaction of $299,526.34. Following the completion of the sale, the chief operating officer now owns 132,836 shares of the company’s stock, valued at approximately $3,063,198.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Kristen M. Oelschlager sold 2,793 shares of Castle Biosciences stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the completion of the transaction, the chief operating officer now directly owns 145,825 shares in the company, valued at $3,216,899.50. 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 45,476 shares of company stock worth $1,181,637 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Castle Biosciences by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after buying an additional 32,695 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Castle Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after acquiring an additional 60,675 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Castle Biosciences by 47.3% in the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after acquiring an additional 96,800 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Castle Biosciences by 33.0% in the 2nd quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock valued at $6,101,000 after purchasing an additional 69,673 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Castle Biosciences by 116.5% during the 2nd quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock valued at $4,616,000 after purchasing an additional 114,104 shares during 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.