Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $43.17 Average PT from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $43.1667.

Several research firms have recently weighed in on CSTL. BTIG Research boosted their price objective on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Guggenheim lifted their price target on Castle Biosciences from $30.00 to $43.00 and gave the stock a “buy” rating in a report on Monday. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Canaccord Genuity Group upped their price objective on Castle Biosciences from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Robert W. Baird lifted their target price on Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th.

Insider Buying and Selling at Castle Biosciences

In related news, insider Tobin W. Juvenal sold 4,693 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $35.58, for a total value of $166,976.94. Following the transaction, the insider owned 84,595 shares in the company, valued at approximately $3,009,890.10. This represents a 5.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kristen M. Oelschlager sold 14,888 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $39.31, for a total transaction of $585,247.28. Following the sale, the chief operating officer owned 12,323 shares of the company’s stock, valued at $484,417.13. This trade represents a 54.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,781 shares of company stock worth $1,856,844 over the last ninety days. Insiders own 6.50% of the company’s stock.

Institutional Trading of Castle Biosciences

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Castle Biosciences by 62.8% in the 4th quarter. SG Americas Securities LLC now owns 21,262 shares of the company’s stock valued at $827,000 after purchasing an additional 8,201 shares during the period. Green Alpha Advisors LLC lifted its holdings in shares of Castle Biosciences by 7.3% during the fourth quarter. Green Alpha Advisors LLC now owns 10,236 shares of the company’s stock worth $398,000 after buying an additional 698 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Castle Biosciences by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 27,778 shares of the company’s stock worth $633,000 after buying an additional 1,115 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Castle Biosciences by 11.7% in the third quarter. Tudor Investment Corp ET AL now owns 85,435 shares of the company’s stock valued at $1,945,000 after acquiring an additional 8,981 shares during the period. Finally, Summit Partners Public Asset Management LLC acquired a new position in shares of Castle Biosciences in the third quarter valued at about $9,108,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Stock Down 1.4%

CSTL stock opened at $39.34 on Wednesday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -87.42 and a beta of 1.06. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $42.17. The business has a 50 day moving average price of $37.66 and a two-hundred day moving average price of $26.83. The company has a quick ratio of 6.31, a current ratio of 6.47 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.32. The company had revenue of $80.55 million during the quarter, compared to the consensus estimate of $71.06 million. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%. Analysts anticipate that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.