Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $47.5714.

A number of analysts have recently issued reports on CSTL shares. BTIG Research lifted their price objective on shares of Castle Biosciences from $38.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Robert W. Baird raised their price target on shares of Castle Biosciences from $41.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Castle Biosciences in a report on Monday, December 29th. Finally, Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a research report on Monday, March 2nd.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $25.00 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.26 and a quick ratio of 5.11. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28. The company has a market capitalization of $743.25 million, a price-to-earnings ratio of -29.41 and a beta of 1.09. The business has a 50-day moving average of $33.22 and a 200-day moving average of $31.81.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.15. The business had revenue of $81.88 million for the quarter, compared to the consensus estimate of $81.19 million. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%. On average, equities analysts anticipate that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 18,650 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $25.93, for a total transaction of $483,594.50. Following the sale, the insider directly owned 22,129 shares in the company, valued at $573,804.97. The trade was a 45.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Frank Stokes sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $27.44, for a total value of $192,080.00. Following the completion of the transaction, the chief financial officer directly owned 52,483 shares in the company, valued at approximately $1,440,133.52. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 72,618 shares of company stock worth $2,072,600. 7.20% of the stock is owned by insiders.

Institutional Trading of Castle Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. RTW Investments LP acquired a new stake in Castle Biosciences in the fourth quarter valued at $82,283,000. AIGH Capital Management LLC acquired a new position in Castle Biosciences during the 3rd quarter worth $16,105,000. Summit Partners Public Asset Management LLC grew its holdings in Castle Biosciences by 164.7% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after acquiring an additional 658,725 shares in the last quarter. Braidwell LP grew its holdings in Castle Biosciences by 125.3% during the 2nd quarter. Braidwell LP now owns 822,735 shares of the company’s stock worth $16,800,000 after acquiring an additional 457,488 shares in the last quarter. Finally, Eventide Asset Management LLC bought a new stake in shares of Castle Biosciences in the 4th quarter worth about $11,864,000. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.