Castle Biosciences, Inc. (NASDAQ:CSTL) Stock Has Average Target Price of $42.00

Castle Biosciences, Inc. (NASDAQ:CSTL) has received an average rating of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $42.00.

A number of equities analysts have recently commented on the company. Roth Capital assumed coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective on the stock. Robert W. Baird set a $36.00 target price on Castle Biosciences in a report on Friday, July 31st. Weiss Ratings raised shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. BTIG Research raised their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Castle Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th.

Castle Biosciences Stock Performance

Shares of CSTL opened at $34.42 on Friday. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.05 billion, a P/E ratio of -52.15 and a beta of 0.94. The stock’s fifty day simple moving average is $33.36 and its 200 day simple moving average is $26.58. Castle Biosciences has a twelve month low of $17.72 and a twelve month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $99.86 million for the quarter, compared to analysts’ expectations of $86.23 million. On average, equities research analysts forecast that Castle Biosciences will post -1.29 earnings per share for the current year.

Insider Transactions at Castle Biosciences

In related news, insider Tobin W. Juvenal sold 1,034 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $34.20, for a total transaction of $35,362.80. Following the completion of the sale, the insider directly owned 52,007 shares of the company’s stock, valued at approximately $1,778,639.40. This represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Maetzold sold 8,580 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $35.57, for a total value of $305,190.60. Following the completion of the sale, the insider owned 21,064 shares of the company’s stock, valued at approximately $749,246.48. This represents a 28.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,658 shares of company stock valued at $6,532,090 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CSTL. Global Retirement Partners LLC purchased a new stake in shares of Castle Biosciences in the second quarter worth about $26,000. Quantbot Technologies LP acquired a new stake in shares of Castle Biosciences in the second quarter valued at about $62,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Castle Biosciences by 140.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $68,000 after buying an additional 1,022 shares in the last quarter. State of Wyoming purchased a new stake in shares of Castle Biosciences during the 2nd quarter valued at about $117,000. Finally, Assetmark Inc. raised its holdings in shares of Castle Biosciences by 9.3% during the 1st quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock valued at $142,000 after buying an additional 492 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to provide personalized information for patients with cancer and other serious diseases. Its products analyze biological characteristics in tissue samples to help physicians assess disease risk, guide treatment decisions and support patient management.

The company’s portfolio includes diagnostic tests for skin cancers, such as DecisionDx-Melanoma for assessing metastatic risk in patients with cutaneous melanoma and DecisionDx-SCC for evaluating metastatic risk in certain cases of cutaneous squamous cell carcinoma.