Castle Biosciences (NASDAQ:CSTL) Price Target Raised to $34.00

Castle Biosciences (NASDAQ:CSTL - Free Report) had its price objective lifted by Robert W. Baird from $33.00 to $34.00 in a research report released on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

CSTL has been the subject of a number of other research reports. KeyCorp raised their price objective on shares of Castle Biosciences from $25.00 to $28.00 and gave the company an overweight rating in a report on Friday, March 1st. Scotiabank increased their price objective on Castle Biosciences from $33.00 to $37.00 and gave the company a sector outperform rating in a report on Friday, March 1st.

Castle Biosciences Trading Up 6.5 %

Castle Biosciences stock traded up $1.49 during midday trading on Friday, reaching $24.33. The company's stock had a trading volume of 839,810 shares, compared to its average volume of 239,099. The stock has a market cap of $667.86 million, a PE ratio of -11.26 and a beta of 0.93. Castle Biosciences has a 52 week low of $9.26 and a 52 week high of $26.70. The business has a 50-day moving average price of $20.85 and a 200-day moving average price of $20.25.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.74. The company had revenue of $66.12 million for the quarter, compared to analyst estimates of $51.32 million. Castle Biosciences had a negative net margin of 26.15% and a negative return on equity of 14.92%. As a group, research analysts predict that Castle Biosciences will post -2.41 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel Bradbury sold 23,323 shares of Castle Biosciences stock in a transaction on Monday, March 4th. The shares were sold at an average price of $20.68, for a total transaction of $482,319.64. Following the completion of the transaction, the director now owns 25,907 shares of the company's stock, valued at $535,756.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Castle Biosciences news, Director Daniel Bradbury sold 23,323 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $20.68, for a total value of $482,319.64. Following the transaction, the director now directly owns 25,907 shares of the company's stock, valued at $535,756.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Derek J. Maetzold sold 1,947 shares of the firm's stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $20.35, for a total transaction of $39,621.45. Following the sale, the insider now directly owns 65,418 shares of the company's stock, valued at approximately $1,331,256.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,483 shares of company stock valued at $1,059,531. 7.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in CSTL. GSA Capital Partners LLP boosted its holdings in Castle Biosciences by 27.6% in the third quarter. GSA Capital Partners LLP now owns 52,195 shares of the company's stock worth $882,000 after acquiring an additional 11,280 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Castle Biosciences in the 3rd quarter worth $2,885,000. Deerfield Management Company L.P. Series C acquired a new stake in Castle Biosciences in the 3rd quarter valued at $15,988,000. Schonfeld Strategic Advisors LLC increased its stake in Castle Biosciences by 294.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 148,030 shares of the company's stock valued at $2,500,000 after purchasing an additional 110,500 shares in the last quarter. Finally, Millrace Asset Group Inc. acquired a new position in Castle Biosciences during the third quarter worth $1,306,000. Institutional investors own 92.60% of the company's stock.

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.