Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $42.43 Average PT from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $42.4286.

CSTL has been the topic of several analyst reports. Wall Street Zen cut shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Robert W. Baird decreased their price objective on Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Roth Capital assumed coverage on Castle Biosciences in a research report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Canaccord Genuity Group dropped their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 20th.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 6,214 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $22.15, for a total transaction of $137,640.10. Following the transaction, the insider owned 21,479 shares of the company’s stock, valued at $475,759.85. The trade was a 22.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,587 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total value of $177,836.77. Following the sale, the chief operating officer owned 30,460 shares in the company, valued at approximately $630,826.60. This represents a 21.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 45,189 shares of company stock valued at $1,014,561. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Castle Biosciences by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company’s stock valued at $85,573,000 after acquiring an additional 27,511 shares during the period. RTW Investments LP bought a new stake in shares of Castle Biosciences in the 4th quarter valued at about $82,283,000. Principal Financial Group Inc. raised its holdings in shares of Castle Biosciences by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company’s stock valued at $70,317,000 after purchasing an additional 13,289 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Castle Biosciences by 7.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company’s stock valued at $33,564,000 after purchasing an additional 96,084 shares during the period. Finally, Summit Partners Public Asset Management LLC lifted its stake in Castle Biosciences by 164.7% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company’s stock valued at $41,184,000 after purchasing an additional 658,725 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Price Performance

NASDAQ CSTL opened at $23.89 on Friday. The firm’s 50 day moving average is $22.39 and its 200-day moving average is $26.71. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $724.58 million, a PE ratio of -54.30 and a beta of 1.00. Castle Biosciences has a 12-month low of $14.59 and a 12-month high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). The business had revenue of $84.23 million during the quarter, compared to analysts’ expectations of $79.23 million. Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. Equities research analysts anticipate that Castle Biosciences will post -1.56 earnings per share for the current fiscal year.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.