BTIG Research Issues Positive Forecast for Castle Biosciences (NASDAQ:CSTL) Stock Price

Castle Biosciences (NASDAQ:CSTL) had its price objective boosted by equities research analysts at BTIG Research from $40.00 to $44.00 in a research note issued on Monday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 57.14% from the stock’s previous close.

Several other analysts have also commented on CSTL. KeyCorp set a $35.00 target price on Castle Biosciences in a report on Friday, May 29th. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Roth Capital began coverage on Castle Biosciences in a research report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Research cut shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Canaccord Genuity Group cut their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $28.00 on Monday. Castle Biosciences has a 1 year low of $14.59 and a 1 year high of $44.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. The company has a market capitalization of $849.24 million, a PE ratio of -42.42 and a beta of 1.00. The company has a fifty day moving average of $22.76 and a 200 day moving average of $26.43.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.34. The business had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. Research analysts forecast that Castle Biosciences will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Kristen M. Oelschlager sold 8,587 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the completion of the transaction, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at $630,826.60. This represents a 21.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 6,214 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $22.15, for a total value of $137,640.10. Following the transaction, the insider directly owned 21,479 shares of the company’s stock, valued at approximately $475,759.85. The trade was a 22.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 55,025 shares of company stock worth $1,252,199 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Castle Biosciences during the fourth quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Castle Biosciences by 26.5% during 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 raised its position in shares of Castle Biosciences by 140.4% during 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 lifted its stake 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 buying an additional 391 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.