Castle Biosciences, Inc. (NASDAQ:CSTL) Stock Has Average Target Price of $42.00

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $42.00.

A number of analysts recently issued reports on the company. Roth Capital began coverage on Castle Biosciences in a research report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price objective for the company. Robert W. Baird set a $36.00 price target on Castle Biosciences in a research note on Friday, July 31st. BTIG Research raised their price target on Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Castle Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th.

Insiders Place Their Bets

In other news, COO Kristen Oelschlager sold 4,153 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $35.95, for a total transaction of $149,300.35. Following the transaction, the chief operating officer owned 13,356 shares in the company, valued at $480,148.20. This represents a 23.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 8,580 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $35.57, for a total transaction of $305,190.60. Following the transaction, the insider owned 21,064 shares in the company, valued at $749,246.48. This represents a 28.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,658 shares of company stock valued at $6,532,090 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSTL. Advisors Capital Management LLC bought a new position in shares of Castle Biosciences in the second quarter valued at approximately $5,681,000. BlackRock Inc. acquired a new stake in shares of Castle Biosciences in the second quarter worth $78,513,000. Bank of New York Mellon Corp bought a new stake in shares of Castle Biosciences during the 2nd quarter worth $2,338,000. Empowered Funds LLC bought a new stake in shares of Castle Biosciences during the 2nd quarter worth $3,395,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Castle Biosciences by 387.3% during the 1st quarter. Quantinno Capital Management LP now owns 45,476 shares of the company’s stock worth $1,116,000 after buying an additional 36,144 shares during the period. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Trading Up 0.4%

CSTL stock opened at $32.88 on Friday. The company has a 50 day moving average of $33.44 and a two-hundred day moving average of $26.68. Castle Biosciences has a 12-month low of $17.72 and a 12-month high of $44.28. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The business had revenue of $99.86 million for the quarter, compared to analysts’ expectations of $86.23 million. As a group, research analysts predict that Castle Biosciences will post -1.29 EPS for the current year.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to provide personalized information for patients with cancer and other serious diseases. Its products analyze biological characteristics in tissue samples to help physicians assess disease risk, guide treatment decisions and support patient management.

The company’s portfolio includes diagnostic tests for skin cancers, such as DecisionDx-Melanoma for assessing metastatic risk in patients with cutaneous melanoma and DecisionDx-SCC for evaluating metastatic risk in certain cases of cutaneous squamous cell carcinoma.