KeyCorp Issues Positive Forecast for Castle Biosciences (NASDAQ:CSTL) Stock Price

Castle Biosciences (NASDAQ:CSTL) had its price target raised by equities researchers at KeyCorp from $28.00 to $36.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 7.02% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. BTIG Research increased their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Canaccord Genuity Group boosted their target price on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird lifted their price objective on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $36.57.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $33.64 on Tuesday. Castle Biosciences has a 12-month low of $16.20 and a 12-month high of $35.42. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The stock has a market cap of $928.80 million, a P/E ratio of -240.29 and a beta of 0.99. The company has a fifty day simple moving average of $30.66 and a 200-day simple moving average of $25.59.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data 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. The firm had revenue of $87.00 million for the quarter, compared to analyst estimates of $69.95 million. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. During the same period last year, the firm posted ($0.70) EPS. Equities analysts expect that Castle Biosciences will post -0.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Daniel Bradbury sold 7,883 shares of the 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 completion of the transaction, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 94,622 shares in the company, valued at approximately $2,718,490.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction on Monday, August 12th. The stock was 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 approximately $227,857.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,694 shares of company stock valued at $820,497. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of CSTL. The Manufacturers Life Insurance Company grew its position in shares of Castle Biosciences by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after buying an additional 675 shares during the period. Assetmark Inc. raised its stake in Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after acquiring an additional 952 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Castle Biosciences by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock worth $400,000 after purchasing an additional 1,131 shares during the period. Finally, Perkins Capital Management Inc. increased its stake in Castle Biosciences by 5.0% during the 3rd quarter. Perkins Capital Management Inc. now owns 32,640 shares of the company’s stock worth $931,000 after purchasing an additional 1,550 shares in the last quarter. 92.60% of the stock is 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.