Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $46.1429.

Several equities research analysts have commented on the company. Robert W. Baird boosted their target price on Castle Biosciences from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Zacks Research downgraded Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. 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. Guggenheim upped their price target on Castle Biosciences from $43.00 to $47.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Lake Street Capital upped their price target on Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a report on Monday, January 12th.

Castle Biosciences Trading Down 2.3%

Castle Biosciences stock opened at $24.58 on Friday. The company has a current ratio of 5.26, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $26.95 and its two-hundred day simple moving average is $32.07. Castle Biosciences has a 12 month low of $14.59 and a 12 month high of $44.28. The company has a market capitalization of $744.77 million, a price-to-earnings ratio of -28.92 and a beta of 1.18.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.15. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%.The business had revenue of $81.88 million for the quarter, compared to the consensus estimate of $81.19 million. As a group, equities analysts predict that Castle Biosciences will post -1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 18,650 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $25.93, for a total transaction of $483,594.50. Following the transaction, the insider directly owned 22,129 shares of the company’s stock, valued at $573,804.97. This represents a 45.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tobin W. Juvenal sold 20,863 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $25.24, for a total value of $526,582.12. Following the transaction, the insider directly owned 86,825 shares in the company, valued at approximately $2,191,463. The trade was a 19.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 74,420 shares of company stock valued at $2,002,376. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. purchased a new stake in Castle Biosciences during the fourth quarter valued at $26,000. Farther Finance Advisors LLC increased its position in Castle Biosciences by 139,100.0% during the third quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after acquiring an additional 1,391 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Castle Biosciences during the third quarter valued at $35,000. Kemnay Advisory Services Inc. purchased a new stake in Castle Biosciences during the fourth quarter valued at $35,000. Finally, CWM LLC increased its position in Castle Biosciences by 80.6% during the third quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after acquiring an additional 853 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

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.