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

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $43.1667.

A number of analysts recently issued reports on the stock. BTIG Research raised their target price on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Canaccord Genuity Group increased their price target on Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Robert W. Baird raised their price objective on Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Finally, Guggenheim increased their target price on Castle Biosciences from $30.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday.

Castle Biosciences Trading Up 2.7%

Shares of CSTL stock opened at $40.07 on Wednesday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -89.04 and a beta of 1.06. The company has a current ratio of 6.47, a quick ratio of 6.31 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $36.73 and a 200 day moving average price of $26.50. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $42.17.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.32. The company had revenue of $80.55 million for the quarter, compared to analysts’ expectations of $71.06 million. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.73%. Research analysts forecast that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 830 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $40.35, for a total transaction of $33,490.50. Following the completion of the transaction, the insider owned 33,530 shares of the company’s stock, valued at approximately $1,352,935.50. This represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tobin W. Juvenal sold 4,693 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $35.58, for a total transaction of $166,976.94. Following the transaction, the insider directly owned 84,595 shares in the company, valued at approximately $3,009,890.10. This represents a 5.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 50,764 shares of company stock worth $1,701,145. 7.20% of the stock is owned by company insiders.

Institutional Trading of Castle Biosciences

A number of institutional investors have recently modified their holdings of CSTL. Farther Finance Advisors LLC increased its position in Castle Biosciences by 139,100.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after purchasing an additional 1,391 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Castle Biosciences during the third quarter valued at approximately $35,000. CWM LLC grew its stake in Castle Biosciences by 80.6% during the third quarter. CWM LLC now owns 1,911 shares of the company’s stock worth $44,000 after buying an additional 853 shares during the period. Russell Investments Group Ltd. increased its position in shares of Castle Biosciences by 63.7% in the third quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock worth $57,000 after acquiring an additional 976 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Castle Biosciences by 10,592.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock valued at $54,000 after acquiring an additional 2,648 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.