FY2024 Earnings Forecast for CSTL Issued By Leerink Partnrs

Castle Biosciences, Inc. (NASDAQ:CSTL) – Analysts at Leerink Partnrs lifted their FY2024 earnings estimates for shares of Castle Biosciences in a research report issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now expects that the company will post earnings of $0.42 per share for the year, up from their prior forecast of $0.32. The consensus estimate for Castle Biosciences’ current full-year earnings is $0.38 per share.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group increased their price target 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. Lake Street Capital increased their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird increased their price target 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. KeyCorp raised their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, BTIG Research raised their target price 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. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Stock Performance

CSTL opened at $26.50 on Wednesday. The company’s fifty day moving average price is $28.66 and its two-hundred day moving average price is $28.18. The company has a market cap of $742.27 million, a price-to-earnings ratio of 132.51 and a beta of 0.92. 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 1-year low of $16.97 and a 1-year high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same quarter in the previous year, the company earned ($0.26) EPS.

Institutional Trading of Castle Biosciences

A number of institutional investors have recently bought and sold shares of CSTL. Rhumbline Advisers lifted its position in Castle Biosciences by 7.7% in the second quarter. Rhumbline Advisers now owns 41,896 shares of the company’s stock worth $912,000 after buying an additional 2,988 shares during the last quarter. American Century Companies Inc. lifted its position in Castle Biosciences by 12.9% in the second quarter. American Century Companies Inc. now owns 42,818 shares of the company’s stock worth $932,000 after buying an additional 4,898 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Castle Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after purchasing an additional 60,675 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Castle Biosciences by 47.3% during the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after purchasing an additional 96,800 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Castle Biosciences during the second quarter worth $218,000. 92.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Castle Biosciences

In related news, 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 approximately $1,926,569.68. This represents a 6.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Derek J. Maetzold sold 1,972 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $34.15, for a total transaction of $67,343.80. Following the sale, the insider now directly owns 87,720 shares of the company’s stock, valued at approximately $2,995,638. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,306 shares of company stock worth $1,063,756. Company insiders own 7.20% of the company’s stock.

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.