Castle Biosciences (NASDAQ:CSTL - Get Free Report) had its price target reduced by equities research analysts at Robert W. Baird from $44.00 to $43.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's target price indicates a potential upside of 73.74% from the stock's current price.
CSTL has been the topic of several other reports. Guggenheim upped their price target on shares of Castle Biosciences from $43.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, January 26th. Morgan Stanley raised shares of Castle Biosciences to a "buy" rating in a report on Monday, March 2nd. Canaccord Genuity Group lowered their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Lake Street Capital lifted their price target on shares of Castle Biosciences from $35.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, January 12th. Finally, Zacks Research upgraded Castle Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $46.00.
Check Out Our Latest Research Report on CSTL
Castle Biosciences Stock Up 0.6%
CSTL opened at $24.75 on Thursday. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28. The stock has a market cap of $749.93 million, a PE ratio of -29.12 and a beta of 1.11. The stock's fifty day simple moving average is $25.62 and its 200 day simple moving average is $32.17. The company has a current ratio of 5.26, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.49). The company had revenue of $84.23 million during the quarter, compared to analysts' expectations of $79.23 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. As a group, research analysts expect that Castle Biosciences will post -1.4 earnings per share for the current year.
Insider Activity
In related news, Director G Bradley Cole sold 7,403 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $28.47, for a total transaction of $210,763.41. Following the sale, the director owned 19,309 shares in the company, valued at approximately $549,727.23. This trade represents a 27.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Derek J. Maetzold sold 3,622 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $25.10, for a total transaction of $90,912.20. Following the transaction, the insider owned 2,502 shares of the company's stock, valued at approximately $62,800.20. This represents a 59.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 74,575 shares of company stock worth $1,948,344. Insiders own 6.10% of the company's stock.
Institutional Trading of Castle Biosciences
Several large investors have recently bought and sold shares of CSTL. Vanguard Group Inc. raised its stake in Castle Biosciences by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company's stock worth $85,573,000 after acquiring an additional 27,511 shares in the last quarter. RTW Investments LP bought a new position in Castle Biosciences in the 4th quarter valued at approximately $82,283,000. Principal Financial Group Inc. lifted its stake in Castle Biosciences by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company's stock valued at $70,317,000 after purchasing an additional 13,289 shares during the last quarter. Portolan Capital Management LLC boosted its position in Castle Biosciences by 1.7% in the third quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company's stock valued at $34,499,000 after buying an additional 25,539 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Castle Biosciences by 7.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company's stock valued at $33,564,000 after buying an additional 96,084 shares in the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.
About Castle Biosciences
(
Get Free Report)
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.
Further Reading
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