Analysts Set Castle Biosciences, Inc. (NASDAQ:CSTL) Price Target at $37.88

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $37.88.

CSTL has been the topic of a number of research reports. Scotiabank upped their price target on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. KeyCorp lifted their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Robert W. Baird upped their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. Finally, Lake Street Capital upped their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $34.15, for a total value of $67,343.80. Following the sale, the insider now directly owns 87,720 shares of the company’s stock, valued at $2,995,638. This trade represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the sale, the insider now directly owns 54,178 shares of the company’s stock, valued at approximately $1,926,569.68. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,290 shares of company stock worth $545,468. 7.20% of the stock is owned by company insiders.

Institutional Trading of Castle Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Castle Biosciences by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after buying an additional 32,695 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Castle Biosciences by 130.7% during the first quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after purchasing an additional 119,443 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Castle Biosciences by 249.3% in the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after purchasing an additional 99,001 shares during the last quarter. Lisanti Capital Growth LLC boosted its holdings in shares of Castle Biosciences by 60.2% in the third quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after purchasing an additional 58,160 shares during the period. Finally, Summit Global Investments purchased a new stake in shares of Castle Biosciences in the 2nd quarter worth $518,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $30.83 on Friday. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $31.13 and a 200 day simple moving average of $26.18. The company has a market capitalization of $863.46 million, a PE ratio of 154.15 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share 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 analyst estimates of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same quarter in the previous year, the business posted ($0.26) EPS. On average, sell-side analysts forecast that Castle Biosciences will post -0.08 EPS for the current year.

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.