Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $42.83 Average Target Price from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $42.8333.

A number of equities analysts recently weighed in on the company. BTIG Research decreased their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Morgan Stanley raised Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. Finally, KeyCorp set a $35.00 price objective on Castle Biosciences in a research note on Friday, May 29th.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,763 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.20, for a total value of $55,812.60. Following the completion of the sale, the insider directly owned 1,946 shares of the company’s stock, valued at approximately $39,309.20. This represents a 58.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 47,316 shares of company stock valued at $1,152,954. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in Castle Biosciences in the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new position in Castle Biosciences in the 4th quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. increased its position 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 worth $55,000 after purchasing an additional 297 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Castle Biosciences by 140.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock worth $68,000 after purchasing an additional 1,022 shares during the last quarter. Finally, CWM LLC increased its position in Castle Biosciences by 20.5% in the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after purchasing an additional 391 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $21.08 on Friday. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28. The firm has a market capitalization of $639.36 million, a price-to-earnings ratio of -47.91 and a beta of 1.04. The stock has a fifty day simple moving average of $22.32 and a 200 day simple moving average of $30.56.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.49). Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The business had revenue of $84.23 million during the quarter, compared to analyst estimates of $79.23 million. Sell-side analysts forecast that Castle Biosciences will post -1.4 earnings per share for the current 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.