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

Key Points

• Castle Biosciences, Inc. has received an average recommendation of "Moderate Buy" from nine research firms, with a reported target price of $36.57.
• The company's shares have seen insider trading activity, with insider Derek J. Maetzold selling 1,339 shares at an average price of $22.44.
• Castle Biosciences reported a positive earnings surprise in its latest quarter, posting an EPS of $0.15, exceeding the consensus estimate by $0.66.

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $36.5714.

A number of analysts have weighed in on CSTL shares. Zacks Research upgraded shares of Castle Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Monday. Canaccord Genuity Group reissued a "buy" rating and set a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, September 9th. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Castle Biosciences in a research report on Wednesday, October 8th.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,339 shares of Castle Biosciences stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $22.44, for a total transaction of $30,047.16. Following the sale, the insider directly owned 62,988 shares in the company, valued at $1,413,450.72. This trade represents a 2.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of hedge funds have recently modified their holdings of CSTL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $309,000 after purchasing an additional 655 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Castle Biosciences by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,478 shares of the company's stock valued at $1,439,000 after buying an additional 707 shares during the last quarter. Diversify Wealth Management LLC increased its stake in shares of 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 buying an additional 717 shares during the period. Inspire Investing LLC raised its position in shares of Castle Biosciences by 4.0% during the third quarter. Inspire Investing LLC now owns 19,887 shares of the company's stock worth $453,000 after acquiring an additional 770 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company's stock worth $44,000 after acquiring an additional 853 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Castle Biosciences Price Performance

Shares of CSTL stock opened at $24.18 on Friday. The business has a fifty day simple moving average of $22.64 and a 200 day simple moving average of $19.87. The company has a market cap of $701.46 million, a P/E ratio of -69.08 and a beta of 1.13. 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 twelve month low of $14.59 and a twelve month high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.51) by $0.66. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%.The firm had revenue of $86.18 million during the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Castle Biosciences will post 0.44 EPS for the current fiscal year.

About Castle Biosciences

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.