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

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $42.4286.

Several analysts have issued reports on CSTL shares. Canaccord Genuity Group dropped their price target on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. KeyCorp set a $35.00 price target on Castle Biosciences in a research note on Friday, May 29th. Wall Street Zen cut shares of Castle Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, BTIG Research lowered their price objective on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 6,214 shares of Castle Biosciences stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the sale, the insider directly owned 21,479 shares in the company, valued at approximately $475,759.85. The trade was a 22.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,587 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the transaction, the chief operating officer directly owned 30,460 shares in the company, valued at approximately $630,826.60. This represents a 21.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 55,025 shares of company stock valued at $1,252,199. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CSTL. RTW Investments LP bought a new position in shares of Castle Biosciences during the fourth quarter valued at about $82,283,000. Summit Partners Public Asset Management LLC raised its holdings in shares of Castle Biosciences by 164.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after purchasing an additional 658,725 shares during the period. Eventide Asset Management LLC purchased a new position in shares of Castle Biosciences during the 4th quarter valued at $11,864,000. SG Americas Securities LLC lifted its holdings in Castle Biosciences by 1,051.8% during 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 purchased a new stake in shares of Castle Biosciences during the 4th quarter valued at approximately $8,502,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Up 9.5%

Shares of Castle Biosciences stock opened at $26.79 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 6.53. The company has a market capitalization of $812.54 million, a P/E ratio of -60.89 and a beta of 1.00. The business has a 50-day moving average of $22.61 and a two-hundred day moving average of $26.51. Castle Biosciences has a 1 year low of $14.59 and a 1 year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.37. Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The company had revenue of $99.86 million for the quarter, compared to analyst estimates of $86.24 million. As a group, equities analysts predict that Castle Biosciences will post -1.56 EPS 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.