Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) PT at $37.00

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $37.00.

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Zacks Research upgraded shares of Castle Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Castle Biosciences in a research report on Saturday, September 27th.

Insiders Place Their Bets

In related news, insider Derek J. Maetzold sold 1,339 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $21.97, for a total transaction of $29,417.83. Following the transaction, the insider owned 65,666 shares in the company, valued at $1,442,682.02. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

Several institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC purchased a new position in shares of Castle Biosciences in the 4th quarter worth $230,000. Two Sigma Advisers LP purchased a new stake in shares of Castle Biosciences during the fourth quarter worth $306,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Castle Biosciences by 18.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,018 shares of the company’s stock worth $1,759,000 after buying an additional 10,486 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Castle Biosciences in the fourth quarter valued at about $560,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Castle Biosciences in the fourth quarter valued at about $19,244,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Up 2.2%

CSTL opened at $22.72 on Monday. The company has a fifty day moving average price of $21.18 and a 200-day moving average price of $19.57. The firm has a market capitalization of $659.11 million, a P/E ratio of -64.91 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69. Castle Biosciences has a one year low of $14.59 and a one year high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.66. The firm had revenue of $86.18 million during the quarter, compared to analyst estimates of $71.53 million. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. Castle Biosciences has set its FY 2025 guidance at EPS. Equities research analysts expect that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

About Castle Biosciences

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.