Castle Biosciences (NASDAQ:CSTL) Stock Price Expected to Rise, KeyCorp Analyst Says

Castle Biosciences (NASDAQ:CSTL) had its target price lifted by KeyCorp from $28.00 to $36.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Stephens reissued an “overweight” rating and issued a $37.00 target price 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 stock an “outperform” rating in a research report on Tuesday, August 6th. BTIG Research raised their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group upped their target price on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $37.88.

Castle Biosciences Trading Up 2.0 %

CSTL opened at $33.31 on Tuesday. The stock has a 50-day moving average of $30.78 and a 200 day moving average of $25.72. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12 month low of $16.20 and a 12 month high of $35.84. The firm has a market cap of $919.69 million, a P/E ratio of 166.56 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.50% and a net margin of 1.95%. The firm had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. During the same quarter in the previous year, the business earned ($0.26) EPS. As a group, research analysts forecast that Castle Biosciences will post -0.58 EPS for the current year.

Insider Transactions at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the completion of the sale, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel Bradbury sold 7,883 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the transaction, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction dated 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 owns 54,178 shares of the company’s stock, valued at $1,926,569.68. The trade was 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 23,201 shares of company stock valued at $688,206. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in Castle Biosciences by 89.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,862 shares of the company’s stock worth $241,000 after buying an additional 5,123 shares during the period. Norden Group LLC bought a new position in shares of Castle Biosciences in the 1st quarter worth $547,000. GSA Capital Partners LLP lifted its stake in shares of Castle Biosciences by 9.0% during the 1st quarter. GSA Capital Partners LLP now owns 52,448 shares of the company’s stock worth $1,162,000 after purchasing an additional 4,352 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Castle Biosciences during the first quarter valued at about $249,000. Finally, Vanguard Group Inc. grew its stake in Castle Biosciences by 2.2% in 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 during the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.