Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) PT at $46.00

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $44.5714.

Several research analysts have recently issued reports on CSTL shares. Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Canaccord Genuity Group reduced their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Wall Street Zen lowered Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. KeyCorp restated an “overweight” rating and issued a $50.00 price target on shares of Castle Biosciences in a research report on Thursday, January 29th. Finally, BTIG Research reduced their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday.

Castle Biosciences Stock Up 1.3%

Shares of CSTL opened at $19.13 on Tuesday. The firm has a market capitalization of $580.21 million, a price-to-earnings ratio of -43.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.53 and a current ratio of 6.75. The business’s fifty day moving average price is $24.16 and its two-hundred day moving average price is $31.89. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, meeting analysts’ consensus estimates of ($0.49). The firm had revenue of $84.23 million for the quarter, compared to analyst estimates of $79.23 million. Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%. On average, analysts predict that Castle Biosciences will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Tobin W. Juvenal sold 20,863 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $25.24, for a total value of $526,582.12. Following the transaction, the insider directly owned 86,825 shares in the company, valued at $2,191,463. This trade represents a 19.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Derek J. Maetzold sold 18,650 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $25.93, for a total value of $483,594.50. Following the completion of the transaction, the insider owned 22,129 shares in the company, valued at $573,804.97. This represents a 45.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 84,411 shares of company stock valued at $2,166,211 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Castle Biosciences

Several hedge funds have recently added to or reduced their stakes in CSTL. RTW Investments LP acquired a new stake in Castle Biosciences during the 4th quarter worth $82,283,000. AIGH Capital Management LLC acquired a new stake in Castle Biosciences during the 3rd quarter worth $16,105,000. Summit Partners Public Asset Management LLC raised its stake in Castle Biosciences by 164.7% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock worth $41,184,000 after buying an additional 658,725 shares during the period. Eventide Asset Management LLC acquired a new stake in Castle Biosciences during the 4th quarter worth $11,864,000. Finally, SG Americas Securities LLC raised its stake in Castle Biosciences by 1,051.8% during the 1st quarter. SG Americas Securities LLC now owns 244,886 shares of the company’s stock worth $6,012,000 after buying an additional 223,624 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Castle Biosciences

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.