Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $36.57 Consensus PT from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $36.5714.

A number of research firms have recently commented on CSTL. Weiss Ratings reiterated a “sell (e+)” rating on shares of Castle Biosciences in a report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, September 9th. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th.

Castle Biosciences Price Performance

Shares of CSTL opened at $24.51 on Friday. The firm has a market capitalization of $711.04 million, a price-to-earnings ratio of -70.03 and a beta of 1.13. The firm’s fifty day simple moving average is $22.73 and its 200-day simple moving average is $19.92. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $35.84. The company has a current ratio of 6.85, a quick ratio of 6.69 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.66. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%.The firm had revenue of $86.18 million for the quarter, compared to analyst estimates of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Equities analysts forecast that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 1,339 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $22.44, for a total value of $30,047.16. Following the completion of the sale, the insider directly owned 62,988 shares of the company’s stock, valued at $1,413,450.72. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Castle Biosciences in the 3rd quarter valued at about $35,000. SG Americas Securities LLC acquired a new position in Castle Biosciences during the third quarter worth approximately $297,000. KLP Kapitalforvaltning AS lifted its stake in Castle Biosciences by 85.4% in the third quarter. KLP Kapitalforvaltning AS now owns 8,900 shares of the company’s stock valued at $203,000 after buying an additional 4,100 shares during the last quarter. CWM LLC boosted its holdings in shares of Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after acquiring an additional 853 shares during the period. Finally, Inspire Investing LLC grew its position in shares of Castle Biosciences by 4.0% during the third quarter. Inspire Investing LLC now owns 19,887 shares of the company’s stock worth $453,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.