Analysts Set Castle Biosciences, Inc. (NASDAQ:CSTL) Price Target at $47.57

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $47.5714.

Several research firms have recently weighed in on CSTL. BTIG Research boosted their price target on Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Guggenheim increased their price objective on Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday, December 29th. KeyCorp restated an “overweight” rating and set a $50.00 target price on shares of Castle Biosciences in a research note on Thursday, January 29th. Finally, Lake Street Capital raised their price target on shares of Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a report on Monday, January 12th.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, Director G Bradley Cole sold 7,403 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $28.47, for a total value of $210,763.41. Following the transaction, the director owned 19,309 shares of the company’s stock, valued at approximately $549,727.23. This represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Frank Stokes sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $27.44, for a total value of $192,080.00. Following the completion of the transaction, the chief financial officer directly owned 52,483 shares in the company, valued at $1,440,133.52. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 72,618 shares of company stock worth $2,072,600 in the last three months. 6.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CSTL. Federated Hermes Inc. purchased a new stake in shares of Castle Biosciences in the 4th quarter worth $26,000. Farther Finance Advisors LLC increased its position in Castle Biosciences by 139,100.0% in the third quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after buying an additional 1,391 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Castle Biosciences in the third quarter worth about $35,000. Kemnay Advisory Services Inc. bought a new position in shares of Castle Biosciences in the fourth quarter worth about $35,000. Finally, CWM LLC raised its stake in shares of Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company’s stock worth $44,000 after buying an additional 853 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Price Performance

Shares of NASDAQ:CSTL opened at $25.27 on Monday. The business has a fifty day moving average price of $32.34 and a 200-day moving average price of $31.80. 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 company has a market capitalization of $751.28 million, a PE ratio of -29.73 and a beta of 1.09. 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 data on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.15. The business had revenue of $81.88 million during the quarter, compared to analyst estimates of $81.19 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. As a group, equities analysts expect that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Castle Biosciences Company Profile

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.