Analysts Set Castle Biosciences, Inc. (NASDAQ:CSTL) PT at $39.71

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) have earned a consensus rating of "Buy" from the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $39.71.

Several analysts have recently weighed in on the stock. Scotiabank lifted their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a report on Wednesday, November 6th. KeyCorp increased their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Lake Street Capital boosted their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Robert W. Baird increased their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Finally, BTIG Research boosted their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, October 14th.

Insiders Place Their Bets

In related news, CFO Frank Stokes sold 6,923 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $29.93, for a total transaction of $207,205.39. Following the sale, the chief financial officer now owns 30,823 shares in the company, valued at approximately $922,532.39. This trade represents a 18.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 9,364 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total value of $265,375.76. Following the completion of the transaction, the insider now owns 84,762 shares of the company's stock, valued at $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,549 shares of company stock valued at $1,079,871. Corporate insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its holdings in shares of Castle Biosciences by 828.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company's stock worth $14,237,000 after acquiring an additional 445,415 shares during the period. Marshall Wace LLP increased its position in Castle Biosciences by 116.5% during the second quarter. Marshall Wace LLP now owns 212,036 shares of the company's stock worth $4,616,000 after purchasing an additional 114,104 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Castle Biosciences by 147.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company's stock worth $4,719,000 after purchasing an additional 98,571 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Castle Biosciences by 47.3% in the 2nd quarter. Renaissance Technologies LLC now owns 301,500 shares of the company's stock valued at $6,564,000 after purchasing an additional 96,800 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Castle Biosciences in the 2nd quarter valued at $2,102,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock traded down $0.27 during trading on Friday, reaching $26.83. The company's stock had a trading volume of 167,178 shares, compared to its average volume of 324,545. The company has a 50-day moving average price of $30.49 and a two-hundred day moving average price of $27.41. Castle Biosciences has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The firm has a market cap of $751.43 million, a PE ratio of 134.16 and a beta of 0.92. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02.

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

Castle Biosciences Company Profile

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.