Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) Target Price at $37.88

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $37.88.

Several brokerages have issued reports on CSTL. Lake Street Capital upped their target price on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, August 6th. Scotiabank lifted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. BTIG Research increased their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th.

Insider Activity

In related news, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total transaction of $124,708.92. Following the completion of the transaction, the insider now owns 54,178 shares of the company’s stock, valued at approximately $1,926,569.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the transaction, the insider now directly owns 94,622 shares of the company’s stock, valued at $2,718,490.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tobin W. Juvenal sold 3,507 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total transaction of $124,708.92. Following the sale, the insider now owns 54,178 shares in the company, valued at $1,926,569.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,318 shares of company stock valued at $478,124. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after buying an additional 40,377 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Castle Biosciences by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after acquiring an additional 32,695 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Castle Biosciences by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after acquiring an additional 60,675 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Castle Biosciences by 47.3% in the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock valued at $6,564,000 after purchasing an additional 96,800 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Castle Biosciences by 33.0% during the 2nd quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock worth $6,101,000 after purchasing an additional 69,673 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

CSTL opened at $32.78 on Friday. Castle Biosciences has a twelve month low of $16.51 and a twelve month high of $35.84. The firm has a market capitalization of $918.17 million, a PE ratio of 168.91 and a beta of 0.99. The company has a current ratio of 7.78, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $31.00 and its 200 day moving average price is $26.05.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. During the same period in the previous year, the firm posted ($0.26) EPS. As a group, sell-side analysts expect that Castle Biosciences will post -0.08 EPS for the current fiscal year.

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.