Stephens Reiterates Overweight Rating for Castle Biosciences (NASDAQ:CSTL)

Castle Biosciences (NASDAQ:CSTL)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a research note issued on Thursday,Benzinga reports. They currently have a $41.00 price target on the stock. Stephens’ price objective suggests a potential upside of 43.31% from the stock’s current price.

CSTL has been the subject of a number of other research reports. Scotiabank upped their target price 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. Robert W. Baird increased their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. KeyCorp raised their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research 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. Finally, Canaccord Genuity Group raised their target price on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $40.29.

Castle Biosciences Stock Performance

Shares of NASDAQ CSTL opened at $28.61 on Thursday. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84. 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 company has a market capitalization of $801.28 million, a PE ratio of 143.06 and a beta of 0.92. The company’s fifty day moving average price is $30.10 and its 200 day moving average price is $27.49.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly 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. The firm had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same quarter last year, the company earned ($0.26) EPS. On average, research analysts predict that Castle Biosciences will post 0.34 earnings per share for the current year.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the transaction, the director now owns 5,700 shares of the company’s stock, valued at approximately $167,808. This trade represents a 57.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $30.27, for a total value of $29,846.22. Following the completion of the sale, the insider now owns 93,636 shares of the company’s stock, valued at approximately $2,834,361.72. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,563 shares of company stock valued at $1,051,543. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

A number of hedge funds have recently added to or reduced their stakes in CSTL. Algert Global LLC lifted its holdings in Castle Biosciences by 0.4% in the third quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after acquiring an additional 599 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Castle Biosciences by 7.1% in 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. Assetmark Inc. increased its position in Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in Castle Biosciences by 3.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock worth $690,000 after purchasing an additional 845 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after acquiring an additional 952 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

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.