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

Key Points

• Analysts rate Castle Biosciences a "Moderate Buy" — 10 analysts cover the stock (8 buys, 1 hold, 1 sell) with an average 1‑year target of $47.57, and recent notes include upgrades and raised price targets from Morgan Stanley, Lake Street, Canaccord and Guggenheim.
• Shares opened at $24.56 (1‑year range $14.59–$44.28) with a market cap of about $744M; the company beat quarterly estimates (EPS ($0.08) vs. consensus ($0.23) and revenue $81.88M vs. $81.19M), while insiders sold roughly 78,437 shares (~$2.16M) in the past 90 days.

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $47.5714.

A number of research analysts recently issued reports on the company. Morgan Stanley upgraded Castle Biosciences to a "buy" rating in a report on Monday, March 2nd. Zacks Research downgraded Castle Biosciences from a "strong-buy" rating to a "hold" rating in a report on Monday, March 2nd. Lake Street Capital boosted 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. Canaccord Genuity Group boosted their price target on Castle Biosciences from $37.00 to $50.00 and gave the company a "buy" rating in a report on Monday, December 22nd. Finally, Guggenheim boosted 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.

Castle Biosciences Stock Down 0.2%

Shares of NASDAQ:CSTL opened at $24.56 on Friday. Castle Biosciences has a 1 year low of $14.59 and a 1 year high of $44.28. The company has a market cap of $744.17 million, a PE ratio of -28.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.26 and a quick ratio of 5.11. The stock's 50-day moving average is $27.40 and its 200 day moving average is $31.89.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $81.88 million for the quarter, compared to the consensus estimate of $81.19 million. Sell-side analysts anticipate that Castle Biosciences will post 0.44 EPS for the current year.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, insider Tobin W. Juvenal sold 20,863 shares of Castle Biosciences stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $25.24, for a total transaction of $526,582.12. Following the sale, the insider directly owned 86,825 shares of the company's stock, valued at approximately $2,191,463. The trade was a 19.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Bradley Cole sold 7,403 shares of Castle Biosciences stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $28.47, for a total value of $210,763.41. Following the sale, the director directly owned 19,309 shares in the company, valued at approximately $549,727.23. The trade was a 27.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 78,437 shares of company stock valued at $2,163,097. Insiders own 6.50% of the company's stock.

Institutional Trading of Castle Biosciences

Large investors have recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in Castle Biosciences during the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its position in Castle Biosciences by 139,100.0% during the 3rd 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 in the last quarter. State of Alaska Department of Revenue bought a new stake in Castle Biosciences during the 3rd quarter valued at approximately $35,000. Kemnay Advisory Services Inc. bought a new stake in Castle Biosciences during the 4th quarter valued at approximately $35,000. Finally, CWM LLC boosted its position in Castle Biosciences by 80.6% during the 3rd quarter. CWM LLC now owns 1,911 shares of the company's stock valued at $44,000 after acquiring an additional 853 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

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.

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