Robert W. Baird Issues Pessimistic Forecast for Castle Biosciences (NASDAQ:CSTL) Stock Price

Castle Biosciences (NASDAQ:CSTL) had its target price dropped by research analysts at Robert W. Baird from $44.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 116.84% from the stock’s current price.

Several other analysts have also issued reports on CSTL. KeyCorp reissued an “overweight” rating and set a $50.00 target price on shares of Castle Biosciences in a report on Thursday, January 29th. Lake Street Capital upped their price objective on shares of Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. Canaccord Genuity Group decreased their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, Zacks Research raised shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Castle Biosciences Trading Up 3.1%

Shares of CSTL stock opened at $19.83 on Thursday. The company has a current ratio of 6.75, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02. The stock has a market cap of $601.44 million, a P/E ratio of -45.07 and a beta of 1.11. The stock has a 50 day simple moving average of $25.41 and a 200 day simple moving average of $32.15. Castle Biosciences has a 1 year low of $14.59 and a 1 year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, hitting 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, research analysts predict that Castle Biosciences will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Castle Biosciences

In other news, CFO Frank Stokes sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $27.44, for a total value of $192,080.00. Following the sale, the chief financial officer directly owned 52,483 shares in the company, valued at approximately $1,440,133.52. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 18,650 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $25.93, for a total transaction of $483,594.50. Following the sale, the insider directly owned 22,129 shares in the company, valued at $573,804.97. This trade represents a 45.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 74,575 shares of company stock worth $1,948,344 over the last three months. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Amundi lifted its stake in shares of Castle Biosciences by 15,811.5% in the 1st quarter. Amundi now owns 4,137 shares of the company’s stock valued at $79,000 after acquiring an additional 4,111 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Castle Biosciences by 548.9% during the 1st quarter. AQR Capital Management LLC now owns 137,022 shares of the company’s stock valued at $2,743,000 after acquiring an additional 115,907 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Castle Biosciences by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company’s stock worth $309,000 after acquiring an additional 655 shares during the last quarter. Jones Financial Companies Lllp grew its position in Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Castle Biosciences by 34.7% in the 2nd quarter. Legal & General Group Plc now owns 34,908 shares of the company’s stock worth $713,000 after purchasing an additional 8,992 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.