Castle Biosciences’ (CSTL) Overweight Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Castle Biosciences (NASDAQ:CSTL) in a report issued on Thursday morning,Benzinga reports. They currently have a $41.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group raised their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. KeyCorp boosted their price target on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank increased their price objective on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. BTIG Research boosted their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Lake Street Capital boosted their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences presently has a consensus rating of “Buy” and a consensus price target of $40.29.

Castle Biosciences Trading Up 2.0 %

Shares of NASDAQ CSTL opened at $28.61 on Thursday. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $801.28 million, a PE ratio of 143.06 and a beta of 0.92. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The stock has a fifty day simple moving average of $30.04 and a 200-day simple moving average of $27.53.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. During the same quarter last year, the company posted ($0.26) EPS. On average, equities analysts forecast that Castle Biosciences will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, CFO Frank Stokes sold 6,923 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the sale, the chief financial officer now owns 30,823 shares in the company, valued at approximately $922,532.39. The trade was a 18.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 9,364 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total transaction of $265,375.76. Following the completion of the transaction, the insider now directly owns 84,762 shares of the company’s stock, valued at $2,402,155.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,563 shares of company stock worth $1,051,543 over the last 90 days. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Several large investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after purchasing an additional 40,377 shares during the period. Bellevue Group AG boosted its position in Castle Biosciences by 3.7% in the third quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock valued at $35,993,000 after buying an additional 44,929 shares in the last quarter. Portolan Capital Management LLC grew its position in Castle Biosciences by 3.7% during the 3rd quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock worth $35,811,000 after acquiring an additional 44,676 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Castle Biosciences by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 809,934 shares of the company’s stock valued at $17,631,000 after buying an additional 60,675 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Castle Biosciences by 9.8% during the third quarter. State Street Corp now owns 680,001 shares of the company’s stock worth $19,394,000 after purchasing an additional 60,924 shares in the last quarter. 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.