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

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $42.00.

Several research analysts have recently commented on the company. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research note on Friday, July 31st. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. BTIG Research increased their price target on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Roth Capital started coverage on Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price target for the company. Finally, KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a research report on Friday, May 29th.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 20,356 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.11, for a total value of $633,275.16. Following the transaction, the insider directly owned 21,479 shares of the company’s stock, valued at $668,211.69. This represents a 48.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,587 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the sale, the chief operating officer owned 30,460 shares of the company’s stock, valued at $630,826.60. This trade represents a 21.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,305 shares of company stock valued at $3,841,714 over the last ninety days. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi lifted its holdings in Castle Biosciences by 15,811.5% during the 1st quarter. Amundi now owns 4,137 shares of the company’s stock worth $79,000 after purchasing an additional 4,111 shares during the last quarter. AQR Capital Management LLC grew its holdings in Castle Biosciences by 548.9% in the 1st quarter. AQR Capital Management LLC now owns 137,022 shares of the company’s stock valued at $2,743,000 after buying an additional 115,907 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Castle Biosciences by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company’s stock worth $309,000 after buying an additional 655 shares during the period. Jones Financial Companies Lllp increased its position in Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after buying an additional 2,648 shares during the period. Finally, Legal & General Group Plc increased its position in Castle Biosciences by 34.7% during the 2nd quarter. Legal & General Group Plc now owns 34,908 shares of the company’s stock worth $713,000 after buying an additional 8,992 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Trading Up 3.9%

Castle Biosciences stock opened at $34.20 on Thursday. Castle Biosciences has a 52 week low of $17.72 and a 52 week high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The stock has a market capitalization of $1.04 billion, a P/E ratio of -51.82 and a beta of 0.98. The stock has a 50-day simple moving average of $25.91 and a 200 day simple moving average of $25.53.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative return on equity of 4.15% and a negative net margin of 5.43%. Analysts expect that Castle Biosciences will post -1.29 earnings per share for the current year.

Castle Biosciences Company Profile

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.