Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received an average rating of “Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $32.80.

A number of research analysts recently issued reports on CSTL shares. BTIG Research lifted their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday. Stephens reaffirmed an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, August 6th. Finally, Robert W. Baird increased their price target on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th.

Castle Biosciences Price Performance

NASDAQ:CSTL traded up $2.58 on Monday, reaching $33.89. The stock had a trading volume of 424,381 shares, compared to its average volume of 306,935. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $935.60 million, a P/E ratio of -29.52 and a beta of 1.03. Castle Biosciences has a 1-year low of $12.23 and a 1-year high of $33.97. The stock has a fifty day moving average price of $28.74 and a 200-day moving average price of $24.20.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The business had revenue of $87.00 million for the quarter, compared to the consensus estimate of $69.95 million. During the same period in the previous year, the business earned ($0.70) EPS. Research analysts forecast that Castle Biosciences will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction that occurred 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 completion of the sale, the insider now 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 is available through this link. In other Castle Biosciences news, CFO Frank Stokes sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $25.70, for a total transaction of $257,000.00. Following the transaction, the chief financial officer now owns 30,823 shares in the company, valued at approximately $792,151.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the sale, the insider now directly owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,504 shares of company stock valued at $1,118,000. 7.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CSTL. The Manufacturers Life Insurance Company boosted its position in shares of Castle Biosciences by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after purchasing an additional 675 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after acquiring an additional 952 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Castle Biosciences by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock valued at $400,000 after acquiring an additional 1,131 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Castle Biosciences by 70.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock worth $117,000 after purchasing an additional 2,187 shares in the last quarter. Finally, RiverPark Advisors LLC raised its stake in shares of Castle Biosciences by 362.2% in the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after purchasing an additional 2,242 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.