Castle Biosciences (NASDAQ:CSTL) Price Target Raised to $39.00

Castle Biosciences (NASDAQ:CSTL - Get Free Report) had its price target boosted by stock analysts at Robert W. Baird from $37.00 to $39.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 25.20% from the company's current price.

CSTL has been the subject of several other reports. Stephens reiterated an "overweight" rating and set a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, August 6th. BTIG Research boosted their price objective on Castle Biosciences from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. KeyCorp increased their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Canaccord Genuity Group upped their price objective on Castle Biosciences from $35.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $36.57.

Castle Biosciences Stock Performance

Shares of CSTL traded down $2.49 during mid-day trading on Tuesday, reaching $31.15. 1,057,619 shares of the company's stock were exchanged, compared to its average volume of 322,814. Castle Biosciences has a 52-week low of $16.20 and a 52-week high of $35.84. The stock has a market capitalization of $860.05 million, a PE ratio of -222.50 and a beta of 0.99. The business's fifty day simple moving average is $30.66 and its 200-day simple moving average is $25.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The business had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same quarter in the previous year, the company earned ($0.26) EPS. On average, equities research analysts expect that Castle Biosciences will post -0.58 earnings per share for the current year.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, CFO Frank Stokes sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the chief financial officer now owns 30,823 shares in the company, valued at approximately $792,151.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Daniel Bradbury sold 7,883 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the sale, the director now owns 8,550 shares of the company's stock, valued at $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Frank Stokes sold 10,000 shares of Castle Biosciences stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the chief financial officer now directly owns 30,823 shares in the company, valued at $792,151.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,694 shares of company stock valued at $820,497 in the last ninety days. Insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CSTL. The Manufacturers Life Insurance Company increased its holdings in shares of Castle Biosciences by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company's stock worth $220,000 after purchasing an additional 675 shares during the period. Assetmark Inc. increased its holdings in shares of Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company's stock worth $149,000 after buying an additional 748 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company's stock valued at $215,000 after purchasing an additional 952 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Castle Biosciences by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company's stock worth $400,000 after acquiring an additional 1,131 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its stake in shares of Castle Biosciences by 5.0% in the third quarter. Perkins Capital Management Inc. now owns 32,640 shares of the company's stock worth $931,000 after purchasing an additional 1,550 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.