Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) Target Price at $37.88

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned an average rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $37.88.

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Stephens reissued an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, August 6th. Robert W. Baird upped their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Lake Street Capital raised their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, BTIG Research boosted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th.

Castle Biosciences Stock Performance

Shares of CSTL opened at $33.29 on Friday. Castle Biosciences has a 12-month low of $16.20 and a 12-month high of $35.84. The stock has a market capitalization of $932.35 million, a P/E ratio of 166.45 and a beta of 0.99. The firm’s 50 day moving average is $30.92 and its 200-day moving average is $25.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.92.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.14. The company had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter in the prior year, the company earned ($0.26) earnings per share. Equities research analysts anticipate that Castle Biosciences will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the completion of the sale, the insider now directly owns 94,622 shares in the company, valued at $2,718,490.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $28.73, for a total transaction of $28,327.78. Following the transaction, the insider now owns 94,622 shares in the company, valued at $2,718,490.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the sale, the insider now directly owns 54,178 shares of the company’s stock, valued at approximately $1,926,569.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,318 shares of company stock worth $478,124 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in Castle Biosciences during the third quarter valued at approximately $236,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Castle Biosciences by 147.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after acquiring an additional 98,571 shares during the period. Quest Partners LLC grew its position in shares of Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after purchasing an additional 1,522 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Castle Biosciences by 58.0% in the third quarter. Thrivent Financial for Lutherans now owns 23,290 shares of the company’s stock worth $664,000 after purchasing an additional 8,552 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Castle Biosciences during the third quarter worth approximately $1,478,000. 92.60% of the stock is owned by institutional investors.

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.