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

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given an average recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $42.4286.

A number of research analysts have issued reports on CSTL shares. Weiss Ratings lowered shares of Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Zacks Research lowered shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Roth Mkm assumed coverage on shares of Castle Biosciences in a research note on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price target for the company. Canaccord Genuity Group reduced their price target on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 3,622 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $20.66, for a total value of $74,830.52. Following the completion of the sale, the insider directly owned 12,646 shares of the company’s stock, valued at approximately $261,266.36. This represents a 22.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,587 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the completion of the sale, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at approximately $630,826.60. This represents a 21.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 40,775 shares of company stock valued at $916,887. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Castle Biosciences

Institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. acquired a new stake in shares of Castle Biosciences in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Castle Biosciences in the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp lifted 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 worth $54,000 after acquiring an additional 2,648 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Castle Biosciences by 26.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after acquiring an additional 297 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Castle Biosciences by 63.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock worth $57,000 after acquiring an additional 976 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Trading Down 1.9%

Castle Biosciences stock opened at $23.85 on Wednesday. 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 firm has a 50-day moving average price of $21.57 and a two-hundred day moving average price of $28.86. The firm has a market capitalization of $723.37 million, a price-to-earnings ratio of -54.20 and a beta of 1.04. Castle Biosciences has a 52-week low of $14.59 and a 52-week high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.49). The firm had revenue of $84.23 million during the quarter, compared to analyst estimates of $79.23 million. Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. Sell-side analysts expect that Castle Biosciences will post -1.48 earnings per share for the current 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.