Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $47.1429.

A number of equities analysts have recently weighed in on the stock. KeyCorp reaffirmed an “overweight” rating and set a $50.00 price target on shares of Castle Biosciences in a research note on Thursday. BTIG Research upped 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. Guggenheim increased their target price on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a report on Monday, January 26th. Robert W. Baird boosted their price target on Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Finally, Canaccord Genuity Group upped their price target on Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 22nd.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $39.39 on Friday. The stock has a fifty day moving average price of $39.77 and a 200 day moving average price of $29.07. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. The company has a market cap of $1.15 billion, a PE ratio of -87.53 and a beta of 1.06.

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

Insider Buying and Selling at Castle Biosciences

In related news, insider Tobin W. Juvenal sold 4,693 shares of Castle Biosciences 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 completion of the transaction, the insider directly owned 84,595 shares in the company, valued at $3,009,890.10. The trade was a 5.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 6,695 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $30.44, for a total value of $203,795.80. Following the completion of the sale, the insider directly owned 56,293 shares in the company, valued at approximately $1,713,558.92. The trade was a 10.63% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 44,781 shares of company stock worth $1,670,060. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Castle Biosciences

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in shares of Castle Biosciences by 139,100.0% in the third quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after acquiring an additional 1,391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Castle Biosciences by 26.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Castle Biosciences in the 3rd quarter valued at about $35,000. CWM LLC lifted its holdings in Castle Biosciences by 80.6% in the 3rd quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after purchasing an additional 853 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Castle Biosciences by 63.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock valued at $57,000 after purchasing an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.