Castle Biosciences, Inc. (NASDAQ:CSTL) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts remain broadly positive on Castle Biosciences, with ten covering analysts giving it an average “Moderate Buy” rating and a 12-month target price of about $42.43.
• The stock has seen mixed insider activity, including recent sales by insiders Derek J. Maetzold and COO Kristen M. Oelschlager; insiders sold 45,189 shares worth about $1.01 million over the last 90 days.
• Castle Biosciences reported its latest quarterly earnings in line with expectations at -$0.49 EPS and beat revenue estimates with $84.23 million in sales, though the company remains unprofitable.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten analysts that are presently covering the company, Marketbeat Ratings reports. One investment 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 12-month target price among analysts that have issued a report on the stock in the last year is $42.4286.

CSTL has been the subject of a number of analyst reports. KeyCorp set a $35.00 target price on shares of Castle Biosciences in a report on Friday, May 29th. Robert W. Baird reduced their price target on Castle Biosciences from $44.00 to $43.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Wall Street Zen lowered 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. Finally, BTIG Research cut their price objective on Castle Biosciences from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 6,214 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the sale, the insider owned 21,479 shares of the company's stock, valued at $475,759.85. This trade represents a 22.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 Castle Biosciences stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $20.71, for a total transaction of $177,836.77. Following the completion of the sale, the chief operating officer owned 30,460 shares in the company, valued at approximately $630,826.60. This trade 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. In the last 90 days, insiders have sold 45,189 shares of company stock valued at $1,014,561. 6.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Castle Biosciences

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Castle Biosciences by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company's stock valued at $85,573,000 after buying an additional 27,511 shares during the period. RTW Investments LP bought a new stake in Castle Biosciences during the 4th quarter valued at approximately $82,283,000. Principal Financial Group Inc. boosted its position in Castle Biosciences by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company's stock valued at $70,317,000 after acquiring an additional 13,289 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Castle Biosciences by 7.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company's stock worth $33,564,000 after acquiring an additional 96,084 shares during the period. Finally, Summit Partners Public Asset Management LLC grew its holdings in shares of Castle Biosciences by 164.7% during the 4th quarter. Summit Partners Public Asset Management LLC now owns 1,058,725 shares of the company's stock worth $41,184,000 after acquiring an additional 658,725 shares during the period. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Stock Down 3.1%

Shares of NASDAQ CSTL opened at $24.68 on Friday. The firm's fifty day moving average is $22.20 and its 200 day moving average is $27.02. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $44.28. 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 cap of $748.54 million, a price-to-earnings ratio of -56.09 and a beta of 1.00.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share for the quarter, meeting 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%. On average, equities research analysts expect that Castle Biosciences will post -1.56 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.