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

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $47.5714.

Several brokerages recently issued reports on CSTL. Guggenheim raised their price objective on Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Zacks Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. KeyCorp reissued an “overweight” rating and set a $50.00 target price on shares of Castle Biosciences in a report on Thursday, January 29th. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $37.00 to $50.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a research report on Monday, March 2nd.

Castle Biosciences Stock Down 2.7%

Shares of Castle Biosciences stock opened at $25.00 on Monday. The business has a 50-day moving average price of $33.22 and a 200 day moving average price of $31.81. Castle Biosciences has a fifty-two week low of $14.59 and a fifty-two week high of $44.28. The firm has a market cap of $743.25 million, a P/E ratio of -29.41 and a beta of 1.09. The company has a quick ratio of 5.11, a current ratio of 5.26 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.15. The company had revenue of $81.88 million for the quarter, compared to the consensus estimate of $81.19 million. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%. On average, sell-side analysts forecast that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director G Bradley Cole sold 7,403 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $28.47, for a total value of $210,763.41. Following the sale, the director owned 19,309 shares of the company’s stock, valued at approximately $549,727.23. This trade represents a 27.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 18,650 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $25.93, for a total value of $483,594.50. Following the transaction, the insider owned 22,129 shares of the company’s stock, valued at $573,804.97. This represents a 45.73% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 72,618 shares of company stock valued at $2,072,600. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC acquired a new stake in shares of Castle Biosciences in the 3rd quarter worth about $16,105,000. Schroder Investment Management Group boosted its stake in Castle Biosciences by 8.6% during the 2nd quarter. Schroder Investment Management Group now owns 648,572 shares of the company’s stock valued at $13,198,000 after purchasing an additional 51,483 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Castle Biosciences in the 3rd quarter worth about $615,000. Squarepoint Ops LLC grew its position in Castle Biosciences by 29.1% in the 2nd quarter. Squarepoint Ops LLC now owns 125,719 shares of the company’s stock worth $2,567,000 after purchasing an additional 28,359 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Castle Biosciences by 364.6% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 54,610 shares of the company’s stock valued at $1,115,000 after purchasing an additional 42,857 shares during the period. 92.60% of the stock is currently owned by institutional investors.

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.