Castle Biosciences’ (CSTL) “Overweight” Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of Castle Biosciences (NASDAQ:CSTL) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $41.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. KeyCorp boosted their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank raised their price objective on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group boosted their price objective on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. BTIG Research raised their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Lake Street Capital increased their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Castle Biosciences currently has an average rating of “Buy” and an average price target of $40.29.

Castle Biosciences Stock Performance

Shares of CSTL opened at $28.04 on Thursday. The firm has a market capitalization of $785.32 million, a P/E ratio of 140.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences has a one year low of $16.97 and a one year high of $35.84. The business has a fifty day moving average of $30.17 and a 200 day moving average of $27.49.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, sell-side analysts anticipate that Castle Biosciences will post 0.34 EPS for the current year.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 9,364 shares of Castle Biosciences stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the sale, the insider now directly owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. The trade was a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $29.44, for a total value of $231,604.48. Following the transaction, the director now directly owns 5,700 shares of the company’s stock, valued at approximately $167,808. The trade was a 57.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,563 shares of company stock worth $1,051,543. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Castle Biosciences

Large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in Castle Biosciences by 147.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after purchasing an additional 98,571 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Castle Biosciences by 11.0% in the third quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company’s stock worth $4,389,000 after acquiring an additional 15,200 shares in the last quarter. Lisanti Capital Growth LLC increased its stake in Castle Biosciences by 60.2% during the third quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock worth $4,412,000 after acquiring an additional 58,160 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Castle Biosciences by 16.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock valued at $7,836,000 after purchasing an additional 39,417 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Castle Biosciences in the 3rd quarter worth approximately $1,478,000. 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.