Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Rating of “Buy” from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given an average rating of “Buy” by the eight research firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.00.

Several analysts have recently commented on CSTL shares. Lake Street Capital reduced their price target on Castle Biosciences from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Guggenheim set a $30.00 target price on Castle Biosciences and gave the company a “buy” rating in a report on Friday, March 28th. Robert W. Baird upped their price objective on Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Scotiabank reduced their price objective on Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group reduced their target price on Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,236 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total transaction of $25,090.80. Following the sale, the insider now directly owns 77,099 shares of the company’s stock, valued at $1,565,109.70. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 2,685 shares of company stock valued at $55,956 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd purchased a new position in Castle Biosciences in the fourth quarter valued at about $25,000. Harbour Investments Inc. bought a new stake in shares of Castle Biosciences during the 1st quarter worth about $50,000. Jones Financial Companies Lllp boosted its stake in shares of Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after acquiring an additional 2,648 shares in the last quarter. Amundi boosted its stake in shares of Castle Biosciences by 15,811.5% during the 1st quarter. Amundi now owns 4,137 shares of the company’s stock worth $79,000 after acquiring an additional 4,111 shares in the last quarter. Finally, CWM LLC boosted its stake in Castle Biosciences by 835.0% during the 1st quarter. CWM LLC now owns 4,142 shares of the company’s stock valued at $83,000 after purchasing an additional 3,699 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock opened at $18.52 on Friday. The business has a 50-day simple moving average of $18.24 and a 200-day simple moving average of $22.71. The company has a market cap of $534.67 million, a PE ratio of -97.47 and a beta of 1.03. Castle Biosciences has a one year low of $15.45 and a one year high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.19 and a current ratio of 9.37.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a negative net margin of 1.46% and a positive return on equity of 3.41%. The firm had revenue of $87.99 million during the quarter, compared to analysts’ expectations of $80.40 million. On average, equities research analysts forecast that Castle Biosciences will post 0.44 EPS for the current fiscal year.

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.