Castle Biosciences (NASDAQ:CSTL) Price Target Raised to $34.00

Castle Biosciences (NASDAQ:CSTL) had its target price lifted by Robert W. Baird from $33.00 to $34.00 in a research report sent to investors on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank raised their price target on shares of Castle Biosciences from $33.00 to $37.00 and gave the company a sector outperform rating in a research note on Friday, March 1st. KeyCorp lifted their target price on shares of Castle Biosciences from $25.00 to $28.00 and gave the stock an overweight rating in a research note on Friday, March 1st.

Castle Biosciences Trading Up 6.5 %

Shares of Castle Biosciences stock opened at $24.33 on Friday. Castle Biosciences has a fifty-two week low of $9.26 and a fifty-two week high of $26.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.02 and a current ratio of 9.25. The company’s 50 day moving average price is $20.86 and its two-hundred day moving average price is $20.43.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.74. The firm had revenue of $66.12 million during the quarter, compared to the consensus estimate of $51.32 million. Castle Biosciences had a negative net margin of 12.28% and a negative return on equity of 7.91%. On average, equities analysts anticipate that Castle Biosciences will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 4,131 shares of Castle Biosciences stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.41, for a total value of $88,444.71. Following the completion of the sale, the insider now directly owns 74,473 shares of the company’s stock, valued at $1,594,466.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Castle Biosciences news, insider Derek J. Maetzold sold 4,131 shares of Castle Biosciences stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $21.41, for a total value of $88,444.71. Following the completion of the sale, the insider now directly owns 74,473 shares of the company’s stock, valued at $1,594,466.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel Bradbury sold 23,323 shares of Castle Biosciences stock in a transaction on Monday, March 4th. The shares were sold at an average price of $20.68, for a total transaction of $482,319.64. Following the completion of the sale, the director now directly owns 25,907 shares of the company’s stock, valued at $535,756.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,483 shares of company stock valued at $1,059,531. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CSTL. Deerfield Management Company L.P. Series C acquired a new position in shares of Castle Biosciences during the third quarter valued at about $15,988,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Castle Biosciences by 112.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 547,403 shares of the company’s stock valued at $9,246,000 after buying an additional 289,252 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Castle Biosciences during the third quarter valued at about $2,885,000. Intrinsic Edge Capital Management LLC grew its holdings in shares of Castle Biosciences by 108.8% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock valued at $7,041,000 after buying an additional 170,000 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its holdings in shares of Castle Biosciences by 59.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock valued at $7,707,000 after buying an additional 132,564 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.