Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $37.00.

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

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,339 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $21.97, for a total transaction of $29,417.83. Following the transaction, the insider directly owned 65,666 shares of the company’s stock, valued at approximately $1,442,682.02. The trade was a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Castle Biosciences

Several institutional investors and hedge funds have recently modified their holdings of CSTL. Vanguard Group Inc. raised its position in shares of Castle Biosciences by 11.7% in the first quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company’s stock valued at $40,992,000 after purchasing an additional 215,030 shares during the period. Principal Financial Group Inc. grew its stake in Castle Biosciences by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company’s stock valued at $29,387,000 after buying an additional 32,208 shares during the last quarter. Wasatch Advisors LP grew its stake in Castle Biosciences by 5.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,049,773 shares of the company’s stock valued at $21,436,000 after buying an additional 51,318 shares during the last quarter. Wellington Management Group LLP raised its holdings in Castle Biosciences by 14.7% in the 1st quarter. Wellington Management Group LLP now owns 828,528 shares of the company’s stock valued at $16,587,000 after acquiring an additional 106,408 shares during the period. Finally, Braidwell LP lifted its position in Castle Biosciences by 125.3% during the second quarter. Braidwell LP now owns 822,735 shares of the company’s stock worth $16,800,000 after acquiring an additional 457,488 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences Stock Performance

Shares of CSTL opened at $22.72 on Monday. The firm has a market cap of $659.11 million, a P/E ratio of -64.91 and a beta of 1.13. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.69 and a current ratio of 6.85. The firm’s 50 day moving average price is $21.18 and its two-hundred day moving average price is $19.58.

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