Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $46.00 Average PT from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL) has been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $44.5714.

CSTL has been the subject of a number of research reports. BTIG Research cut their price objective on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Morgan Stanley upgraded Castle Biosciences to a “buy” rating in a report on Monday, March 2nd. Canaccord Genuity Group cut their price objective on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 20th. Wall Street Zen cut Castle Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 3,622 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $22.15, for a total transaction of $80,227.30. Following the completion of the sale, the insider directly owned 2,224 shares in the company, valued at $49,261.60. This represents a 61.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Frank Stokes sold 6,001 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $27.98, for a total value of $167,907.98. Following the sale, the chief financial officer owned 60,085 shares of the company’s stock, valued at $1,681,178.30. This represents a 9.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 84,411 shares of company stock valued at $2,166,211. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

Several institutional investors have recently bought and sold shares of CSTL. Federated Hermes Inc. purchased a new stake in Castle Biosciences during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC boosted its holdings in Castle Biosciences by 139,100.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after acquiring an additional 1,391 shares during the period. State of Alaska Department of Revenue purchased a new stake in Castle Biosciences during the 3rd quarter valued at about $35,000. Kemnay Advisory Services Inc. purchased a new stake in Castle Biosciences in the 4th quarter worth approximately $35,000. Finally, CWM LLC lifted 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 buying an additional 853 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $19.32 on Tuesday. The firm has a market capitalization of $585.98 million, a P/E ratio of -43.91 and a beta of 1.11. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $23.99 and its two-hundred day simple moving average is $31.91. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49). Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The firm had revenue of $84.23 million during the quarter, compared to analysts’ expectations of $79.23 million. As a group, equities analysts anticipate that Castle Biosciences will post -1.4 EPS 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.