Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $40.29 Consensus Target Price from Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given a consensus recommendation of “Buy” by the seven analysts that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $40.29.

Several equities research analysts recently commented on CSTL shares. Robert W. Baird boosted their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. KeyCorp upped their target price on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd. Canaccord Genuity Group upped their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Scotiabank upped their target price on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th.

Castle Biosciences Trading Up 1.5 %

Shares of NASDAQ CSTL opened at $27.06 on Wednesday. The stock has a market cap of $757.95 million, a price-to-earnings ratio of 135.31 and a beta of 0.92. The business has a 50 day simple moving average of $28.52 and a 200 day simple moving average of $28.44. Castle Biosciences has a 52 week low of $16.97 and a 52 week 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.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly 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 business 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 quarter in the previous year, the business posted ($0.26) EPS. On average, research analysts predict that Castle Biosciences will post 0.38 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Derek J. Maetzold sold 9,364 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the completion of the sale, the insider now directly owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,306 shares of company stock valued at $1,063,756. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds have recently modified their holdings of the business. R Squared Ltd acquired a new position in shares of Castle Biosciences in the fourth quarter valued at $42,000. Quest Partners LLC raised its stake 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 purchasing an additional 1,522 shares in the last quarter. US Bancorp DE raised its stake in shares of 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 acquired a new position in shares of Castle Biosciences in the third quarter valued at $140,000. Finally, Assetmark Inc. raised its stake in shares of Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after purchasing an additional 748 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.