Castle Biosciences (NASDAQ:CSTL) Price Target Raised to $34.00 at Robert W. Baird

Castle Biosciences (NASDAQ:CSTL) had its price target lifted by Robert W. Baird from $33.00 to $34.00 in a report published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other equities research analysts have also commented on CSTL. KeyCorp raised their price objective on shares of Castle Biosciences from $25.00 to $28.00 and gave the stock an overweight rating in a report on Friday, March 1st. Scotiabank boosted their price target on Castle Biosciences from $33.00 to $37.00 and gave the company a sector outperform rating in a report on Friday, March 1st.

Castle Biosciences Price Performance

CSTL opened at $24.41 on Friday. The company has a fifty day simple moving average of $20.86 and a 200 day simple moving average of $20.51. The company has a quick ratio of 9.02, a current ratio of 9.25 and a debt-to-equity ratio of 0.02. The stock has a market cap of $673.96 million, a P/E ratio of -21.23 and a beta of 0.93. Castle Biosciences has a 12 month low of $9.26 and a 12 month high of $26.70.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.74. Castle Biosciences had a negative return on equity of 7.91% and a negative net margin of 12.28%. The company had revenue of $66.12 million for the quarter, compared to analyst estimates of $51.32 million. On average, research analysts expect that Castle Biosciences will post -2.41 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel Bradbury sold 2,074 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $23.20, for a total value of $48,116.80. Following the completion of the transaction, the director now owns 33,870 shares in the company, valued at approximately $785,784. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Daniel Bradbury sold 2,074 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $23.20, for a total value of $48,116.80. Following the completion of the transaction, the director now directly owns 33,870 shares of the company’s stock, valued at $785,784. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Derek J. Maetzold sold 2,295 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $20.27, for a total transaction of $46,519.65. Following the transaction, the insider now owns 69,806 shares in the company, valued at $1,414,967.62. The disclosure for this sale can be found here. Insiders have sold 50,483 shares of company stock valued at $1,059,531 in the last three months. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently bought and sold shares of the company. BluePath Capital Management LLC acquired a new stake in shares of Castle Biosciences in the third quarter valued at approximately $31,000. RiverPark Advisors LLC lifted its holdings in Castle Biosciences by 362.2% during the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after purchasing an additional 2,242 shares during the last quarter. Assetmark Inc. boosted its position in Castle Biosciences by 34.2% during the third quarter. Assetmark Inc. now owns 3,904 shares of the company’s stock worth $66,000 after purchasing an additional 994 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Castle Biosciences by 351.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,110 shares of the company’s stock valued at $67,000 after purchasing an additional 2,421 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Castle Biosciences by 74.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,797 shares of the company’s stock valued at $115,000 after purchasing an additional 2,909 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

About Castle Biosciences

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.