Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Rating of “Buy” from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned an average rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $40.29.

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. KeyCorp upped their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Lake Street Capital upped their price objective 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. 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. Finally, Scotiabank upped their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th.

Castle Biosciences Stock Performance

Shares of CSTL opened at $27.06 on Wednesday. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84. The company has a market cap of $757.95 million, a price-to-earnings ratio of 135.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The firm has a fifty day moving average of $28.52 and a 200-day moving average of $28.44.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $78.55 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. As a group, equities analysts anticipate that Castle Biosciences will post 0.38 earnings per share for the current year.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $28.03, for a total transaction of $27,637.58. Following the sale, the insider now owns 80,818 shares in the company, valued at approximately $2,265,328.54. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $29.14, for a total value of $229,244.38. Following the sale, the director now owns 1,425 shares in the company, valued at approximately $41,524.50. The trade was a 84.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,306 shares of company stock worth $1,063,756. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Castle Biosciences by 147.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after buying an additional 98,571 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Castle Biosciences by 11.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company’s stock valued at $4,389,000 after purchasing an additional 15,200 shares during the period. Barclays PLC increased its holdings in shares of Castle Biosciences by 310.7% in the 3rd quarter. Barclays PLC now owns 52,301 shares of the company’s stock valued at $1,491,000 after purchasing an additional 39,567 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Castle Biosciences in the 3rd quarter valued at about $1,478,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Castle Biosciences by 16.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock valued at $7,836,000 after purchasing an additional 39,417 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.