Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Recommendation of “Buy” from Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given an average rating of “Buy” by the five brokerages that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $32.80.

CSTL has been the subject of a number of research analyst reports. BTIG Research lifted their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird lifted their price objective on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Finally, Stephens restated an “overweight” rating and issued a $37.00 target price on shares of Castle Biosciences in a research note on Tuesday, August 6th.

Castle Biosciences Stock Up 8.2 %

Shares of CSTL traded up $2.58 during mid-day trading on Monday, reaching $33.89. The company’s stock had a trading volume of 424,381 shares, compared to its average volume of 306,935. Castle Biosciences has a 1 year low of $12.23 and a 1 year high of $33.97. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02. The company has a market cap of $935.60 million, a price-to-earnings ratio of -29.52 and a beta of 1.03. The business has a fifty day moving average of $28.74 and a 200 day moving average of $24.20.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.47. The company had revenue of $87.00 million for the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same quarter in the previous year, the business posted ($0.70) EPS. As a group, analysts forecast that Castle Biosciences will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Castle Biosciences

In related news, COO Kristen M. Oelschlager sold 12,989 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $23.06, for a total transaction of $299,526.34. Following the completion of the sale, the chief operating officer now directly owns 132,836 shares of the company’s stock, valued at approximately $3,063,198.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the transaction, the director now owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kristen M. Oelschlager sold 12,989 shares of Castle Biosciences stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $23.06, for a total value of $299,526.34. Following the sale, the chief operating officer now directly owns 132,836 shares in the company, valued at approximately $3,063,198.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,504 shares of company stock worth $1,118,000. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Castle Biosciences

Institutional investors have recently modified their holdings of the company. RiverPark Advisors LLC boosted its position in shares of Castle Biosciences by 362.2% during the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after acquiring an additional 2,242 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Castle Biosciences by 70.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock valued at $117,000 after purchasing an additional 2,187 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Castle Biosciences in the 1st quarter valued at approximately $186,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after buying an additional 952 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Castle Biosciences during the 2nd quarter worth approximately $218,000. Institutional investors and hedge funds 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.