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

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) has been given an average recommendation of "Buy" by the eight analysts that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $37.00.

Several analysts recently commented on CSTL shares. Guggenheim set a $30.00 target price on Castle Biosciences and gave the stock a "buy" rating in a report on Friday, March 28th. Lake Street Capital lowered their price target on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird lifted their price target on Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Scotiabank lowered their price target on 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. Finally, Canaccord Genuity Group cut their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th.

Castle Biosciences Stock Performance

Castle Biosciences stock traded up $0.31 during trading hours on Friday, hitting $19.16. 309,909 shares of the stock traded hands, compared to its average volume of 418,850. Castle Biosciences has a 1 year low of $15.45 and a 1 year high of $35.84. The stock has a market capitalization of $553.15 million, a price-to-earnings ratio of -100.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.37 and a quick ratio of 9.19. The firm's 50 day moving average price is $18.22 and its 200-day moving average price is $22.50.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a negative net margin of 1.46% and a positive return on equity of 3.41%. The business had revenue of $87.99 million for the quarter, compared to analyst estimates of $80.40 million. As a group, equities analysts expect that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $21.52, for a total transaction of $26,598.72. Following the completion of the sale, the insider now owns 74,627 shares of the company's stock, valued at approximately $1,605,973.04. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,685 shares of company stock valued at $55,956 over the last ninety days. Insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On Castle Biosciences

A number of large investors have recently made changes to their positions in the stock. Covestor Ltd purchased a new position in Castle Biosciences during the fourth quarter worth about $25,000. Harbour Investments Inc. acquired a new stake in shares of Castle Biosciences during the 1st quarter worth approximately $50,000. Jones Financial Companies Lllp raised its position in shares of 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 buying an additional 2,648 shares during the period. Amundi lifted its holdings in Castle Biosciences by 15,811.5% in the first quarter. Amundi now owns 4,137 shares of the company's stock valued at $79,000 after acquiring an additional 4,111 shares during the last quarter. Finally, CWM LLC grew its position in Castle Biosciences by 835.0% in the first quarter. CWM LLC now owns 4,142 shares of the company's stock worth $83,000 after acquiring an additional 3,699 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.