BTIG Research Issues Positive Forecast for Castle Biosciences (NASDAQ:CSTL) Stock Price

Castle Biosciences (NASDAQ:CSTL) had its target price boosted by equities research analysts at BTIG Research from $44.00 to $52.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price objective indicates a potential upside of 51.25% from the stock’s previous close.

CSTL has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Castle Biosciences in a report on Thursday, October 29th. Wall Street Zen upgraded shares of Castle Biosciences from a “hold” rating to a “buy” rating in a report on Sunday, November 1st. Mizuho assumed coverage on Castle Biosciences in a research report on Thursday, October 29th. They issued an “outperform” rating and a $60.00 price target on the stock. KeyCorp boosted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Robert W. Baird upped their price target on Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Castle Biosciences Trading Up 5.7%

Shares of CSTL stock opened at $34.38 on Monday. Castle Biosciences has a 12 month low of $17.72 and a 12 month high of $44.28. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $34.27 and its two-hundred day moving average is $28.50. The company has a market cap of $1.05 billion, a PE ratio of -44.65 and a beta of 1.00.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.22. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The business had revenue of $101.95 million during the quarter, compared to analysts’ expectations of $92.76 million. Equities analysts predict that Castle Biosciences will post -1.29 EPS for the current year.

Insider Activity

In other Castle Biosciences news, insider Tobin W. Juvenal sold 6,578 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $36.42, for a total transaction of $239,570.76. Following the completion of the sale, the insider directly owned 38,853 shares of the company’s stock, valued at approximately $1,415,026.26. The trade was a 14.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 4,153 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $35.95, for a total value of $149,300.35. Following the sale, the chief operating officer directly owned 13,356 shares of the company’s stock, valued at $480,148.20. This represents a 23.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 126,184 shares of company stock valued at $4,324,506. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of CSTL. Assetmark Inc. increased its holdings in Castle Biosciences by 9.3% during the 1st quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock worth $142,000 after purchasing an additional 492 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Castle Biosciences by 255.3% in the third quarter. Allworth Financial LP now owns 938 shares of the company’s stock valued at $33,000 after purchasing an additional 674 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Castle Biosciences by 15.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,574 shares of the company’s stock valued at $194,000 after purchasing an additional 747 shares in the last quarter. NFSG Corp bought a new stake in shares of Castle Biosciences in the third quarter valued at about $36,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Castle Biosciences during the second quarter worth about $26,000. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.