KeyCorp Increases Castle Biosciences (NASDAQ:CSTL) Price Target to $36.00

Castle Biosciences (NASDAQ:CSTL) had its price objective raised by KeyCorp from $28.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Robert W. Baird upped their price target on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group raised their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Stephens reissued an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Finally, BTIG Research upped their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $37.88.

Castle Biosciences Stock Down 0.1 %

NASDAQ:CSTL opened at $33.29 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. Castle Biosciences has a 52-week low of $16.20 and a 52-week high of $35.84. The company has a market cap of $919.14 million, a price-to-earnings ratio of 166.46 and a beta of 0.99. The stock’s fifty day moving average price is $30.92 and its two-hundred day moving average price is $25.87.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data 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 net margin of 1.95% and a return on equity of 1.50%. The business had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. During the same quarter in the prior year, the company earned ($0.26) EPS. On average, analysts anticipate that Castle Biosciences will post -0.58 EPS for the current year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Tobin W. Juvenal sold 3,507 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now owns 54,178 shares in the company, valued at $1,926,569.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Castle Biosciences news, insider Tobin W. Juvenal sold 3,507 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the sale, the insider now directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the transaction, the insider now directly owns 94,622 shares in the company, valued at $2,718,490.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,201 shares of company stock worth $688,206 over the last three months. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently made changes to their positions in CSTL. Intech Investment Management LLC purchased a new stake in Castle Biosciences in the 3rd quarter worth approximately $236,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Castle Biosciences by 147.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after acquiring an additional 98,571 shares during the last quarter. Quest Partners LLC boosted its position in shares of Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Castle Biosciences by 58.0% in the third quarter. Thrivent Financial for Lutherans now owns 23,290 shares of the company’s stock worth $664,000 after purchasing an additional 8,552 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Castle Biosciences in the 3rd quarter worth approximately $1,478,000. 92.60% of the stock is owned by institutional investors.

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.