Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Rating of "Buy" from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $37.00.

A number of research analysts have issued reports on CSTL shares. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Robert W. Baird lifted their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Scotiabank decreased their price target on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research note on Wednesday, May 21st. Lake Street Capital cut their price objective on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group reduced their target price on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th.

Castle Biosciences Trading Up 0.0%

Shares of NASDAQ CSTL traded up $0.01 during trading hours on Tuesday, hitting $15.96. The company's stock had a trading volume of 192,175 shares, compared to its average volume of 408,507. Castle Biosciences has a 12 month low of $15.45 and a 12 month high of $35.84. The stock has a market cap of $460.68 million, a price-to-earnings ratio of 79.90 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The business has a 50-day simple moving average of $18.78 and a 200-day simple moving average of $24.05.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $87.99 million during the quarter, compared to analysts' expectations of $80.40 million. On average, analysts anticipate that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 2,130 shares of Castle Biosciences stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the transaction, the insider now owns 78,335 shares of the company's stock, valued at $1,529,099.20. The trade was a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 27,454 shares of company stock valued at $553,030 in the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Castle Biosciences

Several institutional investors have recently bought and sold shares of the company. Covestor Ltd bought a new position in shares of Castle Biosciences in the fourth quarter worth approximately $25,000. R Squared Ltd purchased a new position in Castle Biosciences in the 4th quarter worth approximately $42,000. Harbour Investments Inc. bought a new position in Castle Biosciences in the 1st quarter valued at approximately $50,000. Jones Financial Companies Lllp boosted its stake in Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock valued at $54,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Amundi boosted its stake in Castle Biosciences by 15,811.5% during the 1st quarter. Amundi now owns 4,137 shares of the company's stock valued at $79,000 after purchasing an additional 4,111 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.