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

Castle Biosciences, Inc. (NASDAQ:CSTL) has been assigned an average rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $39.71.

Several research analysts have commented on CSTL shares. BTIG Research upped their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Canaccord Genuity Group increased their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Robert W. Baird lifted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Scotiabank increased 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. Finally, Lake Street Capital lifted their price target on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, CFO Frank Stokes sold 6,923 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the sale, the chief financial officer now directly owns 30,823 shares in the company, valued at approximately $922,532.39. This trade represents a 18.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 9,364 shares of the business’s stock in a transaction 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 transaction, the insider now owns 84,762 shares of the company’s stock, valued at $2,402,155.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,549 shares of company stock valued at $1,079,871. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Several large investors have recently bought and sold shares of the business. Algert Global LLC boosted its holdings in shares of Castle Biosciences by 0.4% during the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after acquiring an additional 599 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Castle Biosciences by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after purchasing 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 valued at $149,000 after buying an additional 748 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Castle Biosciences by 3.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock valued at $690,000 after buying an additional 845 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after buying an additional 952 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Price Performance

CSTL stock opened at $26.83 on Friday. The stock has a market capitalization of $751.43 million, a price-to-earnings ratio of 134.16 and a beta of 0.92. The firm’s 50-day moving average price is $30.49 and its two-hundred day moving average price is $27.37. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12-month low of $16.97 and a 12-month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $85.78 million during the quarter, compared to analyst estimates 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 prior year, the company posted ($0.26) EPS. As a group, equities analysts predict that Castle Biosciences will post 0.34 earnings per share 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.