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

Castle Biosciences, Inc. (NASDAQ:CSTL) has received an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $42.4286.

Several research analysts recently issued reports on the stock. KeyCorp set a $35.00 price target on shares of Castle Biosciences in a research note on Friday, May 29th. Wall Street Zen lowered shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Roth Capital started coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Research downgraded shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 3,622 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.29, for a total transaction of $87,978.38. Following the completion of the transaction, the insider owned 12,368 shares of the company’s stock, valued at $300,418.72. This trade represents a 22.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,586 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.42, for a total value of $209,670.12. Following the transaction, the chief operating officer directly owned 21,874 shares of the company’s stock, valued at approximately $534,163.08. This trade represents a 28.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,189 shares of company stock worth $1,014,561 in the last 90 days. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Truist Financial Corp raised its stake in Castle Biosciences by 1.1% during the 4th quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock valued at $919,000 after purchasing an additional 257 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Castle Biosciences by 2.0% in 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. grew its holdings 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 valued at $55,000 after buying an additional 297 shares in the last quarter. CWM LLC grew its holdings in Castle Biosciences by 20.5% during the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock valued at $90,000 after buying an additional 391 shares in the last quarter. Finally, HRT Financial LP grew its holdings in Castle Biosciences by 0.9% during the 4th quarter. HRT Financial LP now owns 47,654 shares of the company’s stock valued at $1,853,000 after buying an additional 415 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Price Performance

Shares of CSTL stock opened at $24.68 on Friday. The business’s fifty day moving average is $22.20 and its 200 day moving average is $27.02. 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 stock has a market cap of $748.54 million, a price-to-earnings ratio of -56.09 and a beta of 1.00. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49). Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The business had revenue of $84.23 million during the quarter, compared to analyst estimates of $79.23 million. Research analysts expect that Castle Biosciences will post -1.56 EPS for the current fiscal year.

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.