Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received an average rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $40.29.

A number of equities research analysts have issued reports on the stock. Lake Street Capital increased their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. BTIG Research boosted their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stephens reissued an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a report on Thursday, January 2nd. Robert W. Baird increased their price target on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 9,364 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total transaction of $265,375.76. Following the sale, the insider now directly owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tobin W. Juvenal sold 3,507 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 54,178 shares in the company, valued at $1,926,569.68. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,306 shares of company stock worth $1,063,756. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors have recently modified their holdings of the stock. Algert Global LLC raised its stake in shares of Castle Biosciences by 0.4% during the third quarter. Algert Global LLC now owns 134,321 shares of the company’s stock worth $3,831,000 after buying an additional 599 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Castle Biosciences by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock valued at $220,000 after purchasing an additional 675 shares during the last quarter. Assetmark Inc. boosted its holdings in Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Castle Biosciences by 3.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock worth $690,000 after buying an additional 845 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Castle Biosciences by 54.4% in the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Stock Up 7.1 %

Shares of Castle Biosciences stock opened at $26.72 on Wednesday. Castle Biosciences has a 12-month low of $16.97 and a 12-month high of $35.84. The firm has a market capitalization of $748.43 million, a PE ratio of 133.61 and a beta of 0.92. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average is $28.89 and its 200-day moving average is $28.13.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) 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 company had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same quarter in the prior year, the company earned ($0.26) earnings per share. Equities analysts anticipate that Castle Biosciences will post 0.34 earnings per share for the current year.

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.