Castle Biosciences (NASDAQ:CSTL) Price Target Lowered to $37.00 at Canaccord Genuity Group

Castle Biosciences (NASDAQ:CSTL) had its price target decreased by stock analysts at Canaccord Genuity Group from $42.00 to $37.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 97.33% from the company’s current price.

CSTL has been the topic of several other research reports. Robert W. Baird upped their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Guggenheim set a $30.00 price objective on Castle Biosciences and gave the stock a “buy” rating in a report on Friday, March 28th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $38.13.

Castle Biosciences Trading Down 3.1 %

Shares of NASDAQ:CSTL opened at $18.75 on Tuesday. 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 stock has a market capitalization of $540.84 million, a price-to-earnings ratio of 93.75 and a beta of 1.19. Castle Biosciences has a 1-year low of $16.87 and a 1-year high of $35.84. The company has a 50 day moving average price of $20.28 and a 200 day moving average price of $25.99.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. On average, research analysts anticipate that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 22,639 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $20.12, for a total value of $455,496.68. Following the sale, the insider now directly owns 80,465 shares of the company’s stock, valued at approximately $1,618,955.80. This trade represents a 21.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. In the last three months, insiders sold 35,321 shares of company stock valued at $774,644. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CSTL. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Castle Biosciences during the 1st quarter worth about $235,000. Allianz Asset Management GmbH grew its position in Castle Biosciences by 98.4% during the first quarter. Allianz Asset Management GmbH now owns 639,477 shares of the company’s stock worth $12,802,000 after buying an additional 317,103 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in Castle Biosciences during the first quarter valued at about $1,143,000. CWM LLC raised its holdings in Castle Biosciences by 835.0% in the 1st quarter. CWM LLC now owns 4,142 shares of the company’s stock valued at $83,000 after acquiring an additional 3,699 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its position in shares of Castle Biosciences by 5.8% in the 1st quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company’s stock worth $260,000 after acquiring an additional 717 shares during the period. Institutional investors 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.