Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $47.5714.

A number of research firms have commented on CSTL. Lake Street Capital raised their price objective on Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Robert W. Baird increased their target price on Castle Biosciences from $41.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Castle Biosciences in a report on Monday, December 29th. Guggenheim increased their price target on shares of Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Morgan Stanley upgraded Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 18,650 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $25.93, for a total transaction of $483,594.50. Following the sale, the insider owned 22,129 shares of the company’s stock, valued at approximately $573,804.97. The trade was a 45.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Frank Stokes sold 7,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $27.44, for a total value of $192,080.00. Following the completion of the transaction, the chief financial officer owned 52,483 shares of the company’s stock, valued at $1,440,133.52. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 72,618 shares of company stock worth $2,072,600 over the last three months. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in Castle Biosciences in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC increased its stake in shares of Castle Biosciences by 139,100.0% in the third quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after buying an additional 1,391 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Castle Biosciences in the third quarter valued at approximately $35,000. Kemnay Advisory Services Inc. bought a new position in Castle Biosciences in the 4th quarter valued at approximately $35,000. Finally, CWM LLC raised its holdings in Castle Biosciences by 80.6% in the 3rd quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after buying an additional 853 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

CSTL stock opened at $23.53 on Monday. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $44.28. The company has a market capitalization of $699.57 million, a PE ratio of -27.68 and a beta of 1.09. The company’s 50-day simple moving average is $31.69 and its 200 day simple moving average is $31.86. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.11 and a current ratio of 5.26.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.15. The company had revenue of $81.88 million for the quarter, compared to analysts’ expectations of $81.19 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. As a group, sell-side analysts anticipate that Castle Biosciences will post 0.44 earnings per share for the current year.

Castle Biosciences Company Profile

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.