Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) PT at $39.71

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received a consensus rating of “Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $39.71.

CSTL has been the subject of a number of research reports. Lake Street Capital upped their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird raised their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. 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. Scotiabank lifted their price objective on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.44, for a total transaction of $231,604.48. Following the sale, the director now directly owns 5,700 shares of the company’s stock, valued at $167,808. The trade was a 57.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 9,364 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the sale, the insider now owns 84,762 shares of the company’s stock, valued at $2,402,155.08. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,549 shares of company stock worth $1,079,871. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Quest Partners LLC lifted its stake 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 worth $123,000 after buying an additional 1,522 shares during the last quarter. US Bancorp DE increased its stake in Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after acquiring an additional 4,383 shares during the period. Point72 DIFC Ltd bought a new position in shares of Castle Biosciences during the 3rd quarter worth approximately $140,000. Assetmark Inc. grew its holdings in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Castle Biosciences by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after acquiring an additional 2,093 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $26.66 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The company has a market capitalization of $746.67 million, a price-to-earnings ratio of 133.31 and a beta of 0.92. The company’s 50 day simple moving average is $30.49 and its 200-day simple moving average is $27.44. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. During the same quarter last year, the company earned ($0.26) earnings per share. As a group, equities research analysts expect that Castle Biosciences will post 0.34 earnings per share for the current year.

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.