Robert W. Baird Boosts Castle Biosciences (NASDAQ:CSTL) Price Target to $41.00

Castle Biosciences (NASDAQ:CSTL) had its price target raised by stock analysts at Robert W. Baird from $39.00 to $41.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 32.19% from the stock’s current price.

Several other research analysts also recently commented on CSTL. Weiss Ratings reissued a “sell (d-)” rating on shares of Castle Biosciences in a report on Thursday, October 30th. Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, September 9th. Finally, Zacks Research raised Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Castle Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $37.14.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded up $5.03 during midday trading on Tuesday, reaching $31.02. 727,820 shares of the company traded hands, compared to its average volume of 449,720. The firm’s fifty day moving average price is $23.24 and its two-hundred day moving average price is $20.10. The firm has a market capitalization of $899.75 million, a price-to-earnings ratio of -89.40 and a beta of 1.12. The company has a quick ratio of 6.69, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12 month low of $14.59 and a 12 month high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The firm had revenue of $83.04 million for the quarter, compared to the consensus estimate of $71.06 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, equities analysts expect that Castle Biosciences will post 0.44 earnings per share for the current year.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,339 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $22.44, for a total transaction of $30,047.16. Following the completion of the transaction, the insider directly owned 62,988 shares of the company’s stock, valued at approximately $1,413,450.72. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its stake in shares of Castle Biosciences by 9.6% in the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company’s stock worth $208,000 after acquiring an additional 908 shares during the last quarter. Principal Financial Group Inc. grew its position in Castle Biosciences by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company’s stock valued at $29,387,000 after purchasing an additional 32,208 shares during the last quarter. Cerity Partners LLC purchased a new stake in Castle Biosciences during the 1st quarter valued at about $423,000. Diversify Wealth Management LLC increased its stake in Castle Biosciences by 5.8% during the 1st quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company’s stock valued at $260,000 after purchasing an additional 717 shares in the last quarter. Finally, CWM LLC raised its holdings 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 buying an additional 3,699 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.