Castle Biosciences (NASDAQ:CSTL) Earns Overweight Rating from Stephens

Stephens restated their overweight rating on shares of Castle Biosciences (NASDAQ:CSTL - Free Report) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $41.00 price objective on the stock.

Several other brokerages have also issued reports on CSTL. Robert W. Baird upped their target price on Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. KeyCorp upped their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group raised their price objective on Castle Biosciences from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Scotiabank increased their target price on Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a report on Wednesday, November 6th. Finally, Lake Street Capital lifted their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences has an average rating of "Buy" and an average price target of $40.29.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL traded up $1.39 during midday trading on Thursday, hitting $28.04. 267,448 shares of the company's stock were exchanged, compared to its average volume of 323,450. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The business's fifty day moving average price is $30.17 and its two-hundred day moving average price is $27.49. The company has a market cap of $785.32 million, a price-to-earnings ratio of 140.21 and a beta of 0.92. Castle Biosciences has a 12-month low of $16.97 and a 12-month high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The firm had revenue of $85.78 million for the quarter, compared to analysts' expectations of $78.55 million. During the same quarter last year, the company posted ($0.26) EPS. As a group, research analysts forecast that Castle Biosciences will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the sale, the director now directly owns 5,700 shares in the company, valued at $167,808. The trade was a 57.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the transaction, the insider now owns 54,178 shares of the company's stock, valued at approximately $1,926,569.68. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,549 shares of company stock valued at $1,079,871. Company insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quest Partners LLC increased its stake in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company's stock valued at $123,000 after purchasing an additional 1,522 shares in the last quarter. US Bancorp DE increased its position in shares of Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company's stock valued at $132,000 after acquiring an additional 4,383 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Castle Biosciences in the 3rd quarter worth approximately $140,000. Assetmark Inc. lifted its position in Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company's stock valued at $149,000 after acquiring an additional 748 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company's stock valued at $152,000 after purchasing an additional 2,093 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.