Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Rating of “Buy” by Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $34.00.

CSTL has been the subject of several analyst reports. BTIG Research boosted their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Robert W. Baird increased their target price on shares of Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Finally, Stephens reissued an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th.

Castle Biosciences Trading Down 1.3 %

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

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

Insider Activity

In related news, insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $32.27, for a total transaction of $63,636.44. Following the sale, the insider now directly owns 91,664 shares in the company, valued at $2,957,997.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Derek J. Maetzold sold 1,972 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $32.27, for a total transaction of $63,636.44. Following the completion of the transaction, the insider now directly owns 91,664 shares in the company, valued at approximately $2,957,997.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the sale, the insider now directly owns 94,622 shares in the company, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,476 shares of company stock worth $1,181,637 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CSTL. Creative Planning bought a new stake in Castle Biosciences during the 3rd quarter worth about $299,000. Inspire Investing LLC increased its position in shares of Castle Biosciences by 14.4% in the third quarter. Inspire Investing LLC now owns 42,516 shares of the company’s stock valued at $1,213,000 after acquiring an additional 5,349 shares during the last quarter. Truist Financial Corp raised its holdings in Castle Biosciences by 20.5% during the second quarter. Truist Financial Corp now owns 14,217 shares of the company’s stock worth $310,000 after acquiring an additional 2,420 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Castle Biosciences during the second quarter valued at approximately $1,171,000. Finally, The Manufacturers Life Insurance Company boosted its position in Castle Biosciences by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock valued at $220,000 after purchasing an additional 675 shares during the last quarter. Institutional investors and hedge funds own 92.60% 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.