Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $42.83 Average PT from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $42.8333.

A number of equities analysts have recently weighed in on the company. KeyCorp set a $35.00 price target on Castle Biosciences in a report on Friday, May 29th. Wall Street Zen cut Castle Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Canaccord Genuity Group cut their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 20th. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, BTIG Research cut their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, May 13th.

Castle Biosciences Stock Down 1.5%

CSTL opened at $20.70 on Friday. The business’s fifty day moving average is $22.16 and its two-hundred day moving average is $30.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.53 and a current ratio of 6.75. The company has a market cap of $627.83 million, a price-to-earnings ratio of -47.05 and a beta of 1.04. Castle Biosciences has a one year low of $14.59 and a one year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). The company had revenue of $84.23 million for the quarter, compared to the consensus estimate of $79.23 million. Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%. Analysts anticipate that Castle Biosciences will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 18,650 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $25.93, for a total value of $483,594.50. Following the completion of the transaction, the insider directly owned 22,129 shares of the company’s stock, valued at $573,804.97. The trade was a 45.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 47,316 shares of company stock valued at $1,152,954 over the last ninety days. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Several institutional investors have recently added to or reduced their stakes in CSTL. RTW Investments LP acquired a new position in Castle Biosciences in the fourth quarter valued at $82,283,000. Summit Partners Public Asset Management LLC increased its stake in Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after purchasing an additional 658,725 shares during the last quarter. Eventide Asset Management LLC acquired a new position in Castle Biosciences in the fourth quarter valued at $11,864,000. SG Americas Securities LLC increased its stake in Castle Biosciences by 1,051.8% in the first quarter. SG Americas Securities LLC now owns 244,886 shares of the company’s stock valued at $6,012,000 after purchasing an additional 223,624 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Castle Biosciences in the fourth quarter valued at $8,502,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.