Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $32.80 Average Price Target from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $34.00.

A number of equities research analysts recently weighed in on the company. Stephens restated an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Robert W. Baird increased their price objective on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Finally, BTIG Research lifted their target price 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.

Castle Biosciences Stock Performance

Shares of CSTL opened at $32.64 on Monday. The company has a market cap of $901.09 million, a PE ratio of -28.38 and a beta of 1.03. The firm has a 50-day moving average of $29.52 and a 200-day moving average of $24.60. Castle Biosciences has a one year low of $12.23 and a one year high of $34.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.47. The business had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same quarter last year, the company posted ($0.70) earnings per share. As a group, equities analysts forecast that Castle Biosciences will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,972 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $32.27, for a total value of $63,636.44. Following the completion of the sale, the insider now owns 91,664 shares of the company’s stock, valued at $2,957,997.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Castle Biosciences news, insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences stock in a transaction on Monday, October 14th. The stock was sold at an average price of $32.27, for a total value of $63,636.44. Following the completion of the transaction, the insider now directly owns 91,664 shares of the company’s stock, valued at $2,957,997.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $30.27, for a total value of $29,846.22. Following the sale, the insider now directly owns 93,636 shares in the company, valued at approximately $2,834,361.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,476 shares of company stock valued at $1,181,637. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in CSTL. Vanguard Group Inc. raised its position in Castle Biosciences by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after purchasing an additional 32,695 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Castle Biosciences by 130.7% during the 1st quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock worth $4,669,000 after buying an additional 119,443 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Castle Biosciences by 249.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after buying an additional 99,001 shares during the last quarter. Summit Global Investments acquired a new stake in Castle Biosciences in the second quarter valued at about $518,000. Finally, SG Americas Securities LLC bought a new position in Castle Biosciences in the second quarter valued at about $588,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.