Castle Biosciences, Inc. (NASDAQ:CSTL) Given Average Recommendation of “Moderate Buy” by Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $47.1429.

CSTL has been the subject of a number of recent analyst reports. KeyCorp reiterated an “overweight” rating and set a $50.00 price target on shares of Castle Biosciences in a report on Thursday, January 29th. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday, December 29th. Guggenheim upped their price objective 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. Zacks Research raised Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Robert W. Baird upped their price target on Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 5,115 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $40.05, for a total transaction of $204,855.75. Following the completion of the transaction, the insider owned 45,822 shares in the company, valued at $1,835,171.10. This represents a 10.04% 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 Tobin W. Juvenal sold 4,693 shares of Castle Biosciences stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $35.58, for a total transaction of $166,976.94. Following the completion of the sale, the insider owned 84,595 shares in the company, valued at approximately $3,009,890.10. This trade represents a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,425 shares of company stock worth $1,539,720 over the last quarter. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors have recently bought and sold shares of the stock. AIGH Capital Management LLC purchased a new stake in shares of Castle Biosciences in the 3rd quarter worth about $16,105,000. Schroder Investment Management Group lifted its position in Castle Biosciences by 8.6% during the 2nd quarter. Schroder Investment Management Group now owns 648,572 shares of the company’s stock valued at $13,198,000 after acquiring an additional 51,483 shares during the period. Advisors Capital Management LLC boosted its stake in Castle Biosciences by 21.9% during the second quarter. Advisors Capital Management LLC now owns 245,867 shares of the company’s stock worth $5,021,000 after acquiring an additional 44,180 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Castle Biosciences in the third quarter worth about $615,000. Finally, Squarepoint Ops LLC grew its holdings in Castle Biosciences by 29.1% in the second quarter. Squarepoint Ops LLC now owns 125,719 shares of the company’s stock worth $2,567,000 after purchasing an additional 28,359 shares during the period. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Trading Down 7.3%

Shares of CSTL stock opened at $32.40 on Friday. The business has a 50-day moving average of $39.51 and a 200 day moving average of $29.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28. The stock has a market capitalization of $945.72 million, a PE ratio of -72.00 and a beta of 1.06.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. The business had revenue of $80.55 million for the quarter, compared to analysts’ expectations of $71.06 million. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%. As a group, sell-side analysts anticipate that Castle Biosciences will post 0.44 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.