Castle Biosciences, Inc. (NASDAQ:CSTL) Given Average Rating of "Buy" by Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) have earned an average recommendation of "Buy" from the eight analysts that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $37.88.

CSTL has been the subject of several research analyst reports. BTIG Research increased their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a "buy" rating in a report on Monday, October 14th. Robert W. Baird increased their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Tuesday. Lake Street Capital lifted their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday. Stephens reaffirmed an "overweight" rating and issued a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group raised their price target on Castle Biosciences from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th.

Castle Biosciences Stock Down 0.1 %

Shares of Castle Biosciences stock traded down $0.02 during trading hours on Friday, hitting $33.29. The company had a trading volume of 396,272 shares, compared to its average volume of 324,992. The company's 50-day moving average is $30.92 and its two-hundred day moving average is $25.87. Castle Biosciences has a twelve month low of $16.20 and a twelve month high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92. The company has a market cap of $919.14 million, a P/E ratio of 166.46 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.50% and a net margin of 1.95%. The company had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same quarter last year, the company posted ($0.26) earnings per share. Analysts anticipate that Castle Biosciences will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of the company's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the transaction, the insider now owns 94,622 shares of the company's stock, valued at $2,718,490.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Tobin W. Juvenal sold 3,507 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total transaction of $124,708.92. Following the sale, the insider now owns 54,178 shares of the company's stock, valued at $1,926,569.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of the company's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the sale, the insider now owns 94,622 shares in the company, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,201 shares of company stock worth $688,206 over the last 90 days. Company insiders own 7.20% of the company's stock.

Institutional Trading of Castle Biosciences

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Castle Biosciences by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company's stock valued at $43,879,000 after purchasing an additional 40,377 shares during the last quarter. Vanguard Group Inc. increased its position in Castle Biosciences by 2.2% during the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company's stock worth $33,096,000 after buying an additional 32,695 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Castle Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company's stock worth $17,631,000 after buying an additional 60,675 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Castle Biosciences by 47.3% in the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company's stock worth $6,564,000 after acquiring an additional 96,800 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Castle Biosciences by 33.0% in the second quarter. Acadian Asset Management LLC now owns 280,497 shares of the company's stock valued at $6,101,000 after acquiring an additional 69,673 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

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.