Castle Biosciences (NASDAQ:CSTL) Price Target Raised to $39.00 at Robert W. Baird

Castle Biosciences (NASDAQ:CSTL) had its price objective lifted by stock analysts at Robert W. Baird from $37.00 to $39.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 15.93% from the stock’s current price.

Several other analysts have also issued reports on CSTL. KeyCorp boosted their target price on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday. Stephens restated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, August 6th. Canaccord Genuity Group upped their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, BTIG Research lifted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $36.57.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $33.64 on Tuesday. The company has a fifty day moving average of $30.66 and a 200-day moving average of $25.59. Castle Biosciences has a twelve month low of $16.20 and a twelve month high of $35.42. The firm has a market capitalization of $928.80 million, a P/E ratio of -240.29 and a beta of 0.99. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The company had revenue of $87.00 million for the quarter, compared to analyst estimates of $69.95 million. During the same quarter last year, the company earned ($0.70) earnings per share. As a group, sell-side analysts anticipate that Castle Biosciences will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the sale, the director now directly owns 8,550 shares of the company’s stock, valued at $227,857.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $32.27, for a total transaction of $63,636.44. Following the completion of the sale, the insider now owns 91,664 shares of the company’s stock, valued at approximately $2,957,997.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the transaction, the director now directly owns 8,550 shares in the company, valued at approximately $227,857.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,694 shares of company stock worth $820,497. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSTL. US Bancorp DE boosted its holdings in shares of Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after buying an additional 4,383 shares in the last quarter. Assetmark Inc. raised its position in Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after buying an additional 2,093 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after purchasing an additional 952 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Castle Biosciences during the 2nd quarter worth about $218,000. Hedge funds and other institutional investors 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.