Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $42.00 Average PT from Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $42.00.

Several equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. KeyCorp set a $35.00 price target on Castle Biosciences in a research report on Friday, May 29th. Finally, Roth Capital initiated coverage on shares of Castle Biosciences in a research report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective for the company.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 12,384 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $34.42, for a total transaction of $426,257.28. Following the completion of the transaction, the chief operating officer directly owned 72,649 shares of the company’s stock, valued at $2,500,578.58. This trade represents a 14.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek Maetzold sold 20,356 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $31.11, for a total value of $633,275.16. Following the completion of the transaction, the insider owned 21,479 shares of the company’s stock, valued at approximately $668,211.69. The trade was a 48.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 182,358 shares of company stock valued at $5,571,471 over the last three months. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of CSTL. BlackRock Inc. acquired a new position in Castle Biosciences during the second quarter worth $78,513,000. Summit Partners Public Asset Management LLC grew its position in shares of Castle Biosciences by 164.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after buying an additional 658,725 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Castle Biosciences during the 2nd quarter valued at approximately $15,440,000. AIGH Capital Management LLC acquired a new position in shares of Castle Biosciences in the 2nd quarter valued at about $13,001,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Castle Biosciences in the 2nd quarter worth $7,912,000. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Trading Down 3.9%

Shares of CSTL opened at $35.34 on Monday. Castle Biosciences has a 1-year low of $17.72 and a 1-year high of $44.28. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -53.55 and a beta of 0.99. The firm’s 50-day moving average price is $30.27 and its 200-day moving average price is $25.69. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%.The business had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. Sell-side analysts anticipate that Castle Biosciences will post -1.29 EPS for the current year.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.

The company’s portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.