Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $39.71 Consensus Target Price from Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has received a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $39.71.

CSTL has been the topic of a number of recent analyst reports. Robert W. Baird lifted their target price on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. KeyCorp lifted their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. BTIG Research increased their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Lake Street Capital raised their price target on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their price objective on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th.

Insider Buying and Selling

In other news, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.44, for a total value of $231,604.48. Following the completion of the transaction, the director now directly owns 5,700 shares in the company, valued at approximately $167,808. This trade represents a 57.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the sale, the insider now directly owns 94,622 shares in the company, valued at $2,718,490.06. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,549 shares of company stock valued at $1,079,871. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Castle Biosciences by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after buying an additional 40,377 shares in the last quarter. Bellevue Group AG grew its holdings in shares of Castle Biosciences by 3.7% during the third quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after purchasing an additional 44,929 shares in the last quarter. Portolan Capital Management LLC increased its position in shares of Castle Biosciences by 3.7% in the third quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock worth $35,811,000 after purchasing an additional 44,676 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Castle Biosciences by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after purchasing an additional 60,675 shares in the last quarter. Finally, State Street Corp lifted its position in Castle Biosciences by 9.8% during the third quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after purchasing an additional 60,924 shares during the last quarter. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Trading Down 0.0 %

Shares of CSTL stock opened at $26.65 on Friday. Castle Biosciences has a 52-week low of $16.97 and a 52-week high of $35.84. The company has a 50-day simple moving average of $30.17 and a two-hundred day simple moving average of $27.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The company has a market capitalization of $746.39 million, a price-to-earnings ratio of 133.26 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same period last year, the business posted ($0.26) earnings per share. Research analysts anticipate that Castle Biosciences will post 0.34 EPS for the current fiscal year.

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.