Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Rating of “Moderate Buy” from Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $39.1429.

CSTL has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday. Robert W. Baird lifted their target price on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Zacks Research upgraded shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Canaccord Genuity Group restated a “buy” rating and set a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, September 9th. Finally, BTIG Research boosted their price objective on Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Friday.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $38.63 on Friday. The company has a quick ratio of 6.31, a current ratio of 6.47 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $31.21 and its two-hundred day moving average price is $23.79. The company has a market cap of $1.13 billion, a PE ratio of -85.84 and a beta of 1.14. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $40.61.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 3rd. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.32. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%.The company had revenue of $80.55 million during the quarter, compared to the consensus estimate of $71.06 million. On average, analysts predict that Castle Biosciences will post 0.44 EPS for the current year.

Insider Buying and Selling

In other news, insider Tobin W. Juvenal sold 4,693 shares of Castle Biosciences stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $35.58, for a total transaction of $166,976.94. Following the completion of the sale, the insider owned 84,595 shares of the company’s stock, valued at approximately $3,009,890.10. This trade represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kristen M. Oelschlager sold 12,678 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $25.04, for a total transaction of $317,457.12. Following the completion of the sale, the chief operating officer directly owned 27,569 shares of the company’s stock, valued at approximately $690,327.76. The trade was a 31.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 35,876 shares of company stock valued at $1,091,445. Insiders own 6.50% of the company’s stock.

Institutional Trading of Castle Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of CSTL. Farther Finance Advisors LLC boosted its holdings in Castle Biosciences by 139,100.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after purchasing an additional 1,391 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Castle Biosciences in the third quarter valued at approximately $35,000. CWM LLC raised its position in shares of Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after buying an additional 853 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock valued at $54,000 after buying an additional 2,648 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Castle Biosciences by 63.7% during the third quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock worth $57,000 after buying an additional 976 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.