Castle Biosciences (NASDAQ:CSTL) Earns Overweight Rating from Stephens

Castle Biosciences (NASDAQ:CSTL)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $41.00 target price on the stock. Stephens’ price target points to a potential upside of 53.85% from the company’s current price.

A number of other brokerages have also issued reports on CSTL. Scotiabank upped their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. KeyCorp upped their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group increased their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. BTIG Research boosted their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Robert W. Baird raised their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences currently has a consensus rating of “Buy” and a consensus target price of $40.29.

Castle Biosciences Stock Down 0.0 %

Shares of NASDAQ CSTL opened at $26.65 on Thursday. The firm has a market cap of $746.39 million, a price-to-earnings ratio of 133.26 and a beta of 0.92. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The stock’s 50-day simple moving average is $30.17 and its 200-day simple moving average is $27.49.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The company had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same period in the prior year, the business posted ($0.26) EPS. As a group, equities analysts anticipate that Castle Biosciences will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Castle Biosciences

In other news, CFO Frank Stokes sold 6,923 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $29.93, for a total value of $207,205.39. Following the completion of the sale, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at approximately $922,532.39. This represents a 18.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Derek J. Maetzold sold 986 shares of the business’s 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 directly owns 94,622 shares in the company, valued at approximately $2,718,490.06. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,549 shares of company stock worth $1,079,871 in the last 90 days. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC lifted its holdings in shares of Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after buying an additional 1,522 shares during the period. US Bancorp DE lifted its holdings in Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after acquiring an additional 4,383 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Castle Biosciences during the 3rd quarter valued at about $140,000. Assetmark Inc. grew its stake in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Castle Biosciences by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

About Castle Biosciences

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.