Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $39.1429.

Several research firms recently commented on CSTL. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Robert W. Baird increased their target price on Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday. Canaccord Genuity Group reissued a “buy” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, September 9th. Finally, BTIG Research lifted their price objective on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 12th.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL opened at $39.66 on Friday. The firm has a market capitalization of $1.16 billion, a PE ratio of -88.13 and a beta of 1.14. Castle Biosciences has a 12 month low of $14.59 and a 12 month high of $40.61. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. The business has a 50-day moving average of $32.17 and a two-hundred day moving average of $24.33.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.32. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%.The company had revenue of $80.55 million for the quarter, compared to analyst estimates of $71.06 million. As a group, research analysts forecast that Castle Biosciences will post 0.44 earnings per share for the current year.

Insider Activity

In other news, insider Tobin W. Juvenal sold 4,693 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $35.58, for a total value of $166,976.94. Following the completion of the sale, the insider directly owned 84,595 shares of the company’s stock, valued at approximately $3,009,890.10. This represents a 5.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kristen M. Oelschlager sold 12,678 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $25.04, for a total transaction of $317,457.12. Following the completion of the transaction, the chief operating officer owned 27,569 shares of the company’s stock, valued at $690,327.76. This trade represents a 31.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 34,537 shares of company stock valued at $1,062,027. Insiders own 6.50% of the company’s stock.

Institutional Trading of Castle Biosciences

Several institutional investors have recently modified their holdings of CSTL. Farther Finance Advisors LLC raised its holdings in shares of Castle Biosciences by 139,100.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after purchasing an additional 1,391 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Castle Biosciences in the third quarter worth approximately $35,000. CWM LLC increased 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 buying an additional 853 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock valued at $54,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Castle Biosciences by 63.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock worth $57,000 after acquiring an additional 976 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.