Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $47.57 Consensus PT from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $47.5714.

A number of brokerages have recently weighed in on CSTL. Lake Street Capital boosted their price objective on shares of Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. KeyCorp reissued an “overweight” rating and set a $50.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 29th. Canaccord Genuity Group raised their price target on shares of Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Finally, Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a report on Monday, March 2nd.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 3,622 shares of Castle Biosciences stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $25.03, for a total transaction of $90,658.66. Following the sale, the insider owned 2,780 shares of the company’s stock, valued at approximately $69,583.40. The trade was a 56.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director G Bradley Cole sold 7,403 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $28.47, for a total transaction of $210,763.41. Following the transaction, the director owned 19,309 shares in the company, valued at $549,727.23. This represents a 27.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 78,437 shares of company stock worth $2,163,097. Insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. RTW Investments LP purchased a new position in shares of Castle Biosciences in the 4th quarter valued at approximately $82,283,000. AIGH Capital Management LLC purchased a new stake in Castle Biosciences in the third quarter worth $16,105,000. Summit Partners Public Asset Management LLC raised its holdings in Castle Biosciences by 164.7% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after purchasing an additional 658,725 shares in the last quarter. Eventide Asset Management LLC bought a new position in Castle Biosciences in the fourth quarter worth $11,864,000. Finally, SG Americas Securities LLC lifted its position in Castle Biosciences by 1,051.8% during the first quarter. SG Americas Securities LLC now owns 244,886 shares of the company’s stock valued at $6,012,000 after buying an additional 223,624 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Castle Biosciences stock opened at $25.05 on Friday. The firm’s fifty day moving average price is $27.24 and its 200-day moving average price is $32.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.11 and a current ratio of 5.26. The stock has a market cap of $759.02 million, a P/E ratio of -29.47 and a beta of 1.18. Castle Biosciences has a fifty-two week low of $14.59 and a fifty-two week high of $44.28.

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

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.