Castle Biosciences, Inc. (NASDAQ:CSTL) Given Average Rating of “Buy” by Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $40.29.

A number of research analysts have recently weighed in on CSTL shares. Lake Street Capital increased their price target on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stephens reissued an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. KeyCorp increased their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird boosted their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, BTIG Research increased their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL opened at $26.44 on Wednesday. The business has a fifty day moving average of $28.54 and a 200-day moving average of $28.30. The firm has a market cap of $740.58 million, a PE ratio of 132.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The firm had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same period last year, the company earned ($0.26) EPS. On average, equities research analysts predict that Castle Biosciences will post 0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the transaction, the insider now owns 54,178 shares of the company’s stock, valued at $1,926,569.68. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $28.03, for a total transaction of $27,637.58. Following the completion of the sale, the insider now directly owns 80,818 shares in the company, valued at approximately $2,265,328.54. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,306 shares of company stock valued at $1,063,756 in the last quarter. 7.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Castle Biosciences during the fourth quarter worth $42,000. Quest Partners LLC grew its holdings in shares of Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares in the last quarter. US Bancorp DE raised its stake in Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after purchasing an additional 4,383 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Castle Biosciences during the third quarter worth about $140,000. Finally, Assetmark Inc. raised its position in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after buying an additional 748 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.