Castle Biosciences (NASDAQ:CSTL) PT Raised to $40.00

Castle Biosciences (NASDAQ:CSTL) had its price target hoisted by equities researchers at BTIG Research from $35.00 to $40.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 19.47% from the company’s current price.

A number of other research firms have also recently issued reports on CSTL. Stephens reissued an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, August 6th. Robert W. Baird boosted their price target on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences presently has a consensus rating of “Buy” and an average price target of $34.00.

Castle Biosciences Stock Down 2.3 %

Shares of Castle Biosciences stock opened at $33.48 on Monday. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12 month low of $12.23 and a 12 month high of $34.50. The business has a fifty day simple moving average of $29.16 and a 200 day simple moving average of $24.37. The stock has a market cap of $924.28 million, a PE ratio of -29.11 and a beta of 1.03.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The firm had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. During the same period in the previous year, the firm earned ($0.70) earnings per share. Research analysts predict that Castle Biosciences will post -0.58 EPS for the current year.

Insider Activity

In other news, Director Daniel Bradbury sold 7,883 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now directly owns 8,550 shares in the company, valued at $227,857.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $30.27, for a total transaction of $29,846.22. Following the sale, the insider now owns 93,636 shares in the company, valued at approximately $2,834,361.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now owns 8,550 shares in the company, valued at $227,857.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,504 shares of company stock worth $1,118,000 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of CSTL. RiverPark Advisors LLC raised its holdings in Castle Biosciences by 362.2% during the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after acquiring an additional 2,242 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Castle Biosciences by 70.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after buying an additional 2,187 shares during the period. Denali Advisors LLC bought a new stake in Castle Biosciences in the first quarter valued at approximately $186,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after buying an additional 952 shares during the period. Finally, XTX Topco Ltd bought a new stake in Castle Biosciences in the second quarter valued at approximately $218,000. 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.