Robert W. Baird Forecasts Strong Price Appreciation for Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences (NASDAQ:CSTL) had its price objective increased by equities researchers at Robert W. Baird from $37.00 to $39.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 19.41% from the company’s previous close.

CSTL has been the subject of a number of other reports. KeyCorp lifted their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday. BTIG Research boosted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report 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 report on Tuesday, October 29th. Finally, 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $37.88.

Castle Biosciences Stock Up 4.8 %

Shares of Castle Biosciences stock opened at $32.66 on Tuesday. 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 market capitalization of $901.64 million, a PE ratio of 163.30 and a beta of 0.99. Castle Biosciences has a 52-week low of $16.20 and a 52-week high of $35.84. The company has a 50-day simple moving average of $30.78 and a two-hundred day simple moving average of $25.72.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. The firm had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same period in the previous year, the business posted ($0.26) earnings per share. On average, analysts anticipate that Castle Biosciences will post -0.58 EPS for the current fiscal year.

Insider Activity

In other news, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $28.73, for a total transaction of $28,327.78. Following the sale, the insider now directly owns 94,622 shares in the company, valued at $2,718,490.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Daniel Bradbury sold 7,883 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the sale, the director now directly owns 8,550 shares in the company, valued at $227,857.50. This trade represents a 0.00 % decrease in their position. The sale 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 firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $28.73, for a total transaction of $28,327.78. Following the sale, the insider now owns 94,622 shares in the company, valued at $2,718,490.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,694 shares of company stock worth $563,497 in the last three months. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Several institutional investors have recently bought and sold shares of CSTL. US Bancorp DE grew its stake in Castle Biosciences by 1,889.2% during the third 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 in the last quarter. Assetmark Inc. grew its stake in Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after acquiring an additional 748 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Castle Biosciences by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after acquiring an additional 2,093 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Castle Biosciences by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after acquiring an additional 952 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Castle Biosciences during the second quarter valued at $218,000. 92.60% of the stock is owned by hedge funds and other 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.