Stephens reaffirmed their overweight rating on shares of Castle Biosciences (NASDAQ:CSTL – Free Report) in a report released on Thursday,Benzinga reports. The firm currently has a $41.00 price target on the stock.
A number of other research analysts have also recently commented on the stock. BTIG Research increased their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. KeyCorp increased their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird boosted their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Scotiabank upped their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, Lake Street Capital lifted their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $40.29.
Check Out Our Latest Stock Analysis on CSTL
Castle Biosciences Stock Performance
Castle Biosciences (NASDAQ:CSTL – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same quarter last year, the business posted ($0.26) earnings per share. On average, equities research analysts expect that Castle Biosciences will post 0.34 earnings per share for the current fiscal year.
Insider Transactions at Castle Biosciences
In related news, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.44, for a total transaction of $231,604.48. Following the transaction, the director now owns 5,700 shares in the company, valued at $167,808. The trade was a 57.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 9,364 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total transaction of $265,375.76. Following the completion of the sale, the insider now owns 84,762 shares of the company’s stock, valued at $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,563 shares of company stock worth $1,051,543. Company insiders own 7.20% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in CSTL. Principal Financial Group Inc. lifted its position in Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock valued at $43,879,000 after acquiring an additional 40,377 shares during the period. Bellevue Group AG grew its stake in shares of Castle Biosciences by 3.7% in the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after buying an additional 44,929 shares during the last quarter. Portolan Capital Management LLC increased its position in Castle Biosciences by 3.7% during the 3rd quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock valued at $35,811,000 after buying an additional 44,676 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Castle Biosciences by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after acquiring an additional 60,675 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Castle Biosciences by 9.8% in the third quarter. State Street Corp now owns 680,001 shares of the company’s stock worth $19,394,000 after acquiring an additional 60,924 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.
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.
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