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

Key Points

• Castle Biosciences, Inc. (NASDAQ:CSTL) has an average consensus rating of "Moderate Buy" from nine brokerages, with eight analysts recommending a buy and one holding the stock.
• The company's shares opened at $23.20 but have experienced a trading decline of 4.2%, with a market capitalization of approximately $673.03 million.
• Castle Biosciences reported earnings of $0.15 per share for the last quarter, surpassing expectations of a loss, and has set its FY 2025 guidance at a projected 0.44 EPS.

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $37.00.

Several analysts have weighed in on CSTL shares. Scotiabank dropped their target price on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 21st. Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Finally, Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th.

Institutional Trading of Castle Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Castle Biosciences by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company's stock valued at $40,992,000 after acquiring an additional 215,030 shares during the period. Principal Financial Group Inc. lifted its stake in Castle Biosciences by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company's stock valued at $29,387,000 after acquiring an additional 32,208 shares during the period. Wasatch Advisors LP lifted its stake in Castle Biosciences by 5.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,049,773 shares of the company's stock valued at $21,436,000 after acquiring an additional 51,318 shares during the period. Dimensional Fund Advisors LP lifted its stake in Castle Biosciences by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after acquiring an additional 134,645 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Castle Biosciences by 14.7% during the 1st quarter. Wellington Management Group LLP now owns 828,528 shares of the company's stock valued at $16,587,000 after acquiring an additional 106,408 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences Stock Up 2.0%

Shares of Castle Biosciences stock traded up $0.47 on Thursday, reaching $23.56. The stock had a trading volume of 233,004 shares, compared to its average volume of 588,171. The company has a 50 day moving average price of $19.50 and a 200 day moving average price of $19.49. 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 1 year low of $14.59 and a 1 year high of $35.84. The stock has a market capitalization of $683.48 million, a P/E ratio of -67.31 and a beta of 1.07.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.15 earnings per share (EPS) 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 firm had revenue of $86.18 million for the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Castle Biosciences will post 0.44 EPS for the current 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.