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

Castle Biosciences (NASDAQ:CSTL) had its price objective boosted by BTIG Research from $44.00 to $52.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on CSTL. Mizuho began coverage on Castle Biosciences in a report on Thursday, October 29th. They issued an “outperform” rating and a $60.00 target price on the stock. KeyCorp raised their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen upgraded Castle Biosciences from a “hold” rating to a “buy” rating in a research note on Sunday, November 1st. Robert W. Baird upped their price target on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Castle Biosciences in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

Castle Biosciences Price Performance

Shares of CSTL opened at $34.38 on Monday. The firm has a market cap of $1.05 billion, a PE ratio of -44.65 and a beta of 1.00. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $34.27 and a two-hundred day simple moving average of $28.50. Castle Biosciences has a 1-year low of $17.72 and a 1-year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.22. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. The firm had revenue of $101.95 million for the quarter, compared to the consensus estimate of $92.76 million. On average, equities analysts anticipate that Castle Biosciences will post -1.29 EPS for the current year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Tobin W. Juvenal sold 6,578 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $36.42, for a total value of $239,570.76. Following the transaction, the insider owned 38,853 shares of the company’s stock, valued at $1,415,026.26. This trade represents a 14.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 4,153 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $35.95, for a total value of $149,300.35. Following the completion of the transaction, the chief operating officer directly owned 13,356 shares in the company, valued at $480,148.20. This trade represents a 23.72% decrease in their position. 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. Over the last quarter, insiders sold 126,184 shares of company stock valued at $4,324,506. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP bought a new position in shares of Castle Biosciences in the third quarter worth approximately $2,114,000. Diversified Trust Co purchased a new stake in shares of Castle Biosciences in the third quarter worth $339,000. Allworth Financial LP increased its stake in shares of Castle Biosciences by 255.3% in the third quarter. Allworth Financial LP now owns 938 shares of the company’s stock worth $33,000 after purchasing an additional 674 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in shares of Castle Biosciences during the 3rd quarter valued at $210,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Castle Biosciences during the 3rd quarter valued at $238,000. 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 that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.