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

Key Points

• Castle Biosciences, Inc. (NASDAQ:CSTL) has received a "Moderate Buy" average recommendation from nine brokerages, with a 12-month price target of $37.00.
• Insider activity includes a sale of 1,339 shares by CEO Derek J. Maetzold at an average price of $21.97, indicating a 2% reduction in his holdings.
• The company reported earnings per share of $0.15 for the last quarter, exceeding analysts' estimates, and had a revenue of $86.18 million, well above expectations.

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) has been given an average rating of "Moderate Buy" by the nine brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $37.00.

A number of research firms have recently weighed in on CSTL. Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, September 9th. Finally, Zacks Research upgraded shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,339 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $21.97, for a total value of $29,417.83. Following the sale, the insider directly owned 65,666 shares in the company, valued at $1,442,682.02. The trade was a 2.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Castle Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Castle Biosciences by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company's stock valued at $309,000 after acquiring an additional 655 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Castle Biosciences by 1.0% in the second quarter. Envestnet Asset Management Inc. now owns 70,478 shares of the company's stock valued at $1,439,000 after acquiring an additional 707 shares in the last quarter. Diversify Wealth Management LLC grew its position in Castle Biosciences by 5.8% in the first quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company's stock valued at $260,000 after acquiring an additional 717 shares in the last quarter. Teacher Retirement System of Texas grew its position in Castle Biosciences by 9.6% in the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock valued at $208,000 after acquiring an additional 908 shares in the last quarter. Finally, Townsquare Capital LLC grew its position in Castle Biosciences by 7.1% in the first quarter. Townsquare Capital LLC now owns 23,772 shares of the company's stock valued at $476,000 after acquiring an additional 1,584 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

NASDAQ:CSTL opened at $22.71 on Monday. The company has a quick ratio of 6.69, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. Castle Biosciences has a fifty-two week low of $14.59 and a fifty-two week high of $35.84. The stock has a market cap of $658.82 million, a PE ratio of -64.88 and a beta of 1.07. The firm's fifty day simple moving average is $20.57 and its 200-day simple moving average is $19.48.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.66. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The business had revenue of $86.18 million for the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Analysts expect that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.