Analysts Set Castle Biosciences, Inc. (NASDAQ:CSTL) Price Target at $43.17

Castle Biosciences, Inc. (NASDAQ:CSTL) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $43.1667.

CSTL has been the topic of several recent analyst reports. Guggenheim raised their price objective on Castle Biosciences from $30.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Robert W. Baird boosted their price target on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Canaccord Genuity Group upped their price objective on shares of Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday, December 29th. Finally, BTIG Research upped their target price on Castle Biosciences from $38.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 12th.

Castle Biosciences Price Performance

CSTL stock opened at $39.34 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.31 and a current ratio of 6.47. The business has a 50-day simple moving average of $37.66 and a two-hundred day simple moving average of $26.94. The company has a market capitalization of $1.15 billion, a P/E ratio of -87.42 and a beta of 1.06. Castle Biosciences has a 52-week low of $14.59 and a 52-week high of $42.17.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.32. The firm had revenue of $80.55 million during the quarter, compared to the consensus estimate of $71.06 million. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%. Research analysts expect that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 6,695 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $30.44, for a total transaction of $203,795.80. Following the completion of the sale, the insider directly owned 56,293 shares of the company’s stock, valued at $1,713,558.92. This trade represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tobin W. Juvenal sold 4,693 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $35.58, for a total transaction of $166,976.94. Following the completion of the transaction, the insider directly owned 84,595 shares in the company, valued at $3,009,890.10. This trade represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,781 shares of company stock worth $1,856,844 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Castle Biosciences

Several large investors have recently modified their holdings of the stock. Schroder Investment Management Group lifted its holdings in Castle Biosciences by 8.6% during the second quarter. Schroder Investment Management Group now owns 648,572 shares of the company’s stock valued at $13,198,000 after purchasing an additional 51,483 shares during the last quarter. Advisors Capital Management LLC lifted its stake in shares of Castle Biosciences by 21.9% during the 2nd quarter. Advisors Capital Management LLC now owns 245,867 shares of the company’s stock valued at $5,021,000 after buying an additional 44,180 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Castle Biosciences by 29.1% in the 2nd quarter. Squarepoint Ops LLC now owns 125,719 shares of the company’s stock worth $2,567,000 after buying an additional 28,359 shares during the period. Caxton Associates LLP purchased a new position in Castle Biosciences in the 1st quarter valued at approximately $329,000. Finally, Geode Capital Management LLC raised its holdings in Castle Biosciences by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 689,926 shares of the company’s stock valued at $14,090,000 after acquiring an additional 40,073 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.