Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $32.80 Average PT from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned an average recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of equities analysts recently weighed in on the company. BTIG Research upped their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird upped their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Finally, Stephens reissued an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th.

Castle Biosciences Trading Up 0.9 %

Castle Biosciences stock opened at $33.77 on Monday. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The firm has a market cap of $932.29 million, a PE ratio of -29.37 and a beta of 1.03. The stock’s 50 day simple moving average is $29.30 and its two-hundred day simple moving average is $24.43. Castle Biosciences has a 12 month low of $12.23 and a 12 month high of $34.50.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.47. The firm had revenue of $87.00 million for the quarter, compared to the consensus estimate of $69.95 million. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. During the same period in the prior year, the firm posted ($0.70) earnings per share. Analysts anticipate that Castle Biosciences will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Kristen M. Oelschlager sold 12,989 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $23.06, for a total value of $299,526.34. Following the transaction, the chief operating officer now owns 132,836 shares in the company, valued at $3,063,198.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Kristen M. Oelschlager sold 12,989 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $23.06, for a total value of $299,526.34. Following the completion of the sale, the chief operating officer now directly owns 132,836 shares in the company, valued at $3,063,198.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Kristen M. Oelschlager sold 2,793 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the transaction, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,476 shares of company stock worth $1,181,637. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in CSTL. RiverPark Advisors LLC increased its stake in shares of Castle Biosciences by 362.2% in the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after acquiring an additional 2,242 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Castle Biosciences by 70.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after purchasing an additional 2,187 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Castle Biosciences in the 1st quarter valued at approximately $186,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after buying an additional 952 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Castle Biosciences during the 2nd quarter worth approximately $218,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.