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

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $42.8333.

CSTL has been the topic of a number of research reports. Robert W. Baird reduced their target price on shares of Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. BTIG Research reduced their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a report on Monday, March 2nd. Weiss Ratings downgraded shares of Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Finally, Zacks Research downgraded shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,763 shares of Castle Biosciences stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.20, for a total transaction of $55,812.60. Following the completion of the transaction, the insider directly owned 1,946 shares of the company’s stock, valued at approximately $39,309.20. The trade was a 58.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tobin W. Juvenal sold 20,863 shares of Castle Biosciences stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $25.24, for a total transaction of $526,582.12. Following the transaction, the insider directly owned 86,825 shares of the company’s stock, valued at approximately $2,191,463. This represents a 19.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 68,179 shares of company stock worth $1,679,536. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently made changes to their positions in the company. Truist Financial Corp boosted its stake in shares of Castle Biosciences by 1.1% during the 4th quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock worth $919,000 after purchasing an additional 257 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Castle Biosciences by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock worth $523,000 after purchasing an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 during the period. CWM LLC boosted its stake in shares of Castle Biosciences by 20.5% during the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after purchasing an additional 391 shares during the period. Finally, HRT Financial LP boosted its stake in shares of Castle Biosciences by 0.9% during the 4th quarter. HRT Financial LP now owns 47,654 shares of the company’s stock worth $1,853,000 after purchasing an additional 415 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Castle Biosciences stock opened at $21.01 on Friday. The company’s 50-day moving average price is $22.51 and its 200-day moving average price is $30.88. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $44.28. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The company has a market cap of $637.23 million, a PE ratio of -47.75 and a beta of 1.04.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. The firm had revenue of $84.23 million for the quarter, compared to the consensus estimate of $79.23 million. On average, equities research analysts forecast that Castle Biosciences will post -1.4 EPS for the current fiscal year.

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.