Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Rating of “Buy” by Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL) has received an average recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $40.29.

Several brokerages have recently weighed in on CSTL. Scotiabank upped their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Stephens restated an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a report on Thursday. KeyCorp boosted their price target on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Lake Street Capital raised their price objective on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird boosted their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 9,364 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the completion of the transaction, the insider now owns 84,762 shares in the company, valued at $2,402,155.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the transaction, the insider now directly owns 54,178 shares in the company, valued at $1,926,569.68. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,563 shares of company stock worth $1,051,543 in the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

Large investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Castle Biosciences by 147.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after purchasing an additional 98,571 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Castle Biosciences by 11.0% in the third quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company’s stock worth $4,389,000 after buying an additional 15,200 shares during the last quarter. Lisanti Capital Growth LLC grew its holdings in Castle Biosciences by 60.2% during the third quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock worth $4,412,000 after acquiring an additional 58,160 shares during the period. Charles Schwab Investment Management Inc. raised its position in Castle Biosciences by 16.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock valued at $7,836,000 after acquiring an additional 39,417 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Castle Biosciences in the third quarter valued at approximately $1,478,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Castle Biosciences stock opened at $28.61 on Friday. Castle Biosciences has a 1-year low of $16.97 and a 1-year high of $35.84. The company’s 50-day moving average is $30.10 and its 200 day moving average is $27.49. The firm has a market capitalization of $801.28 million, a P/E ratio of 143.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

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