Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $47.14 Average Price Target from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $47.5714.

CSTL has been the subject of several recent analyst reports. BTIG Research lifted their price target on Castle Biosciences from $38.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday. Guggenheim lifted their price target on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday, December 29th. Finally, Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a report on Monday.

Castle Biosciences Price Performance

NASDAQ:CSTL opened at $28.17 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.26 and a quick ratio of 5.11. The firm has a market cap of $837.49 million, a price-to-earnings ratio of -33.14 and a beta of 1.09. The company has a 50 day moving average price of $36.41 and a 200-day moving average price of $31.38. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.15. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. The company had revenue of $81.88 million for the quarter, compared to analyst estimates of $81.19 million. Equities research analysts forecast that Castle Biosciences will post 0.44 EPS for the current year.

Insider Activity

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 14,888 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $39.31, for a total transaction of $585,247.28. Following the completion of the transaction, the chief operating officer owned 12,323 shares of the company’s stock, valued at $484,417.13. This represents a 54.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 817 shares of Castle Biosciences stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $37.99, for a total value of $31,037.83. Following the completion of the sale, the insider directly owned 83,698 shares in the company, valued at $3,179,687.02. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 28,278 shares of company stock worth $1,114,287. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

Large investors have recently modified their holdings of the business. Truist Financial Corp raised its position in shares of Castle Biosciences by 1.1% in the fourth quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock valued at $919,000 after buying an additional 257 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Castle Biosciences by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock valued at $523,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares during the last quarter. CWM LLC raised its holdings in Castle Biosciences by 20.5% in the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock valued at $90,000 after acquiring an additional 391 shares during the last quarter. Finally, HRT Financial LP lifted its stake in Castle Biosciences by 0.9% in the 4th quarter. HRT Financial LP now owns 47,654 shares of the company’s stock worth $1,853,000 after purchasing an additional 415 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.