Castle Biosciences (NASDAQ:CSTL) Given New $43.00 Price Target at Robert W. Baird

Castle Biosciences (NASDAQ:CSTL) had its price objective cut by Robert W. Baird from $44.00 to $43.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. Zacks Research raised shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Lake Street Capital upped their price objective on Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Guggenheim upped their price target on shares of Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Canaccord Genuity Group dropped their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.

Castle Biosciences Stock Down 0.8%

NASDAQ CSTL traded down $0.16 during trading on Thursday, hitting $19.09. 146,378 shares of the company traded hands, compared to its average volume of 392,148. The company has a current ratio of 5.26, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $25.41 and a 200 day simple moving average of $32.15. The company has a market capitalization of $578.28 million, a P/E ratio of -43.37 and a beta of 1.11. Castle Biosciences has a 12 month low of $14.59 and a 12 month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.76%. The firm had revenue of $84.23 million during the quarter, compared to analysts’ expectations of $79.23 million. As a group, sell-side analysts predict that Castle Biosciences will post -1.4 EPS for the current year.

Insider Buying and Selling

In other news, insider Tobin W. Juvenal sold 20,863 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $25.24, for a total transaction of $526,582.12. Following the completion of the transaction, the insider directly owned 86,825 shares in the company, valued at approximately $2,191,463. The trade was a 19.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Frank Stokes sold 6,001 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $27.98, for a total transaction of $167,907.98. Following the sale, the chief financial officer owned 60,085 shares in the company, valued at $1,681,178.30. This trade represents a 9.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 74,575 shares of company stock valued at $1,948,344 in the last three months. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Castle Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of CSTL. Vanguard Group Inc. boosted its holdings in shares of Castle Biosciences by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company’s stock worth $85,573,000 after acquiring an additional 27,511 shares during the period. RTW Investments LP acquired a new stake in shares of Castle Biosciences during the 4th quarter worth approximately $82,283,000. Principal Financial Group Inc. increased its stake in Castle Biosciences by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company’s stock valued at $70,317,000 after acquiring an additional 13,289 shares during the last quarter. Portolan Capital Management LLC raised its position in Castle Biosciences by 1.7% during the third quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company’s stock valued at $34,499,000 after purchasing an additional 25,539 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Castle Biosciences by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company’s stock worth $33,564,000 after purchasing an additional 96,084 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

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.