Canaccord Genuity Group Issues Positive Forecast for Castle Biosciences (NASDAQ:CSTL) Stock Price

Castle Biosciences (NASDAQ:CSTL) had its target price upped by Canaccord Genuity Group from $37.00 to $50.00 in a research report released on Monday morning, Marketbeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

CSTL has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Castle Biosciences in a report on Monday, December 15th. Robert W. Baird lifted their price objective 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 report on Monday, October 20th. Finally, BTIG Research raised their price target on shares of Castle Biosciences from $38.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Castle Biosciences Trading Up 4.9%

NASDAQ:CSTL opened at $41.39 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.47 and a quick ratio of 6.31. Castle Biosciences has a one year low of $14.59 and a one year high of $42.18. The company has a market cap of $1.21 billion, a PE ratio of -91.98 and a beta of 1.14. The firm has a 50-day moving average of $33.19 and a 200-day moving average of $24.88.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.32. The business had revenue of $80.55 million during the quarter, compared to the consensus estimate of $71.06 million. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%. As a group, equities research analysts expect that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Insider Transactions at Castle Biosciences

In related news, COO Kristen M. Oelschlager sold 14,888 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $39.31, for a total value of $585,247.28. Following the transaction, the chief operating officer directly owned 12,323 shares of the company’s stock, valued at approximately $484,417.13. The trade was a 54.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 1,339 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $40.03, for a total transaction of $53,600.17. Following the sale, the insider owned 37,547 shares of the company’s stock, valued at $1,503,006.41. This trade represents a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,934 shares of company stock worth $1,667,655 in the last ninety days. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

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

About Castle Biosciences

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.