Castle Biosciences (NASDAQ:CSTL) Price Target Raised to $50.00

by · The Markets Daily

Castle Biosciences (NASDAQ:CSTL – Free Report) had its price target increased by Canaccord Genuity Group from $37.00 to $50.00 in a research report report published on Monday morning, Marketbeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also issued reports on CSTL. BTIG Research lifted their price target on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Zacks Research raised shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Robert W. Baird upped their target price on shares of Castle Biosciences from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Get Our Latest Research Report on CSTL

Castle Biosciences Trading Down 0.4%

NASDAQ:CSTL opened at $40.06 on Monday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -89.01 and a beta of 1.14. Castle Biosciences has a one year low of $14.59 and a one year high of $42.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.31 and a current ratio of 6.47. The business’s 50-day simple moving average is $33.89 and its 200 day simple moving average is $25.14.

Castle Biosciences (NASDAQ:CSTL – Get Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.32. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%.The firm had revenue of $80.55 million during the quarter, compared to analyst estimates of $71.06 million. As a group, sell-side analysts predict that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Castle Biosciences news, insider Tobin W. Juvenal sold 4,693 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $35.58, for a total transaction of $166,976.94. Following the completion of the transaction, the insider owned 84,595 shares in the company, valued at approximately $3,009,890.10. The trade was a 5.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kristen M. Oelschlager sold 14,888 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $39.31, for a total transaction of $585,247.28. Following the sale, the chief operating officer owned 12,323 shares in the company, valued at $484,417.13. This trade represents a 54.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,934 shares of company stock worth $1,667,655 over the last quarter. 6.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds have recently bought and sold shares of CSTL. Farther Finance Advisors LLC increased its stake in shares of Castle Biosciences by 139,100.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after purchasing an additional 1,391 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Castle Biosciences in the third quarter valued at approximately $35,000. CWM LLC boosted its position in shares of Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after acquiring an additional 853 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Castle Biosciences by 63.7% during the third quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock worth $57,000 after acquiring an additional 976 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

About Castle Biosciences

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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.

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