Castle Biosciences, Inc. (NASDAQ:CSTL) Stock Has Average Target Price of $44.25 According to Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $45.50.

A number of equities analysts recently issued reports on CSTL shares. Weiss Ratings restated a “sell (d-)” rating on shares of Castle Biosciences in a report on Thursday, October 29th. Wall Street Zen raised Castle Biosciences from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. BTIG Research increased their target price on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. 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 report on Monday. Finally, KeyCorp lifted their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday.

Insider Buying and Selling

In other Castle Biosciences news, insider Tobin W. Juvenal sold 9,050 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $35.04, for a total value of $317,112.00. Following the completion of the sale, the insider directly owned 66,914 shares of the company’s stock, valued at $2,344,666.56. The trade was a 11.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Maetzold sold 12,428 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $33.20, for a total transaction of $412,609.60. Following the completion of the sale, the insider directly owned 21,479 shares of the company’s stock, valued at approximately $713,102.80. This trade represents a 36.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 126,184 shares of company stock valued at $4,324,506 in the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Castle Biosciences during the second quarter valued at approximately $78,513,000. Jefferies Financial Group Inc. bought a new position in Castle Biosciences in the second quarter worth approximately $15,440,000. AIGH Capital Management LLC purchased a new stake in Castle Biosciences during the second quarter worth $13,001,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Castle Biosciences during the second quarter worth $7,912,000. Finally, Advisors Capital Management LLC bought a new stake in Castle Biosciences during the 2nd quarter valued at $5,681,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Stock Up 5.7%

Shares of NASDAQ CSTL opened at $34.38 on Tuesday. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12-month low of $17.72 and a 12-month high of $44.28. The firm’s 50-day moving average price is $34.27 and its 200-day moving average price is $28.50. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -44.65 and a beta of 1.00.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, November 5th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.22. The firm had revenue of $101.95 million during the quarter, compared to analysts’ expectations of $92.76 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. On average, equities research analysts anticipate that Castle Biosciences will post -1.29 EPS for the current fiscal year.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.