FY2024 Earnings Estimate for CSTL Issued By Leerink Partnrs

Castle Biosciences, Inc. (NASDAQ:CSTL) – Leerink Partnrs boosted their FY2024 earnings per share estimates for Castle Biosciences in a report issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings of $0.42 per share for the year, up from their prior forecast of $0.32. The consensus estimate for Castle Biosciences’ current full-year earnings is $0.34 per share.

CSTL has been the subject of a number of other reports. Lake Street Capital lifted their price target on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird lifted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Canaccord Genuity Group upped their target price on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. KeyCorp raised their price target on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Scotiabank boosted their price objective 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. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Stock Down 0.4 %

CSTL stock opened at $26.62 on Wednesday. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $28.77 and its 200 day moving average price is $28.19. Castle Biosciences has a 52 week low of $16.97 and a 52 week high of $35.84. The company has a market cap of $745.63 million, a P/E ratio of 133.11 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last issued its 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 analyst estimates of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same period in the previous year, the firm earned ($0.26) EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of Castle Biosciences by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 41,896 shares of the company’s stock worth $912,000 after buying an additional 2,988 shares during the period. American Century Companies Inc. increased its stake in Castle Biosciences by 12.9% during the second quarter. American Century Companies Inc. now owns 42,818 shares of the company’s stock worth $932,000 after acquiring an additional 4,898 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Castle Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock worth $17,631,000 after purchasing an additional 60,675 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Castle Biosciences by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after purchasing an additional 96,800 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Castle Biosciences during the 2nd quarter worth about $218,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 9,364 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total transaction of $265,375.76. Following the transaction, the insider now owns 84,762 shares of the company’s stock, valued at $2,402,155.08. This represents a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Tobin W. Juvenal sold 3,507 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the sale, the insider now owns 54,178 shares in the company, valued at $1,926,569.68. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,306 shares of company stock worth $1,063,756. 7.20% of the stock is owned by corporate insiders.

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.