Castle Biosciences (NASDAQ:CSTL) Price Target Raised to $36.00

Castle Biosciences (NASDAQ:CSTL) had its price objective upped by KeyCorp from $28.00 to $36.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also commented on CSTL. Canaccord Genuity Group upped their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Robert W. Baird upped their target price on shares of Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Stephens reiterated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday, August 6th. Finally, BTIG Research upped their price objective on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences presently has a consensus rating of “Buy” and a consensus price target of $37.88.

Castle Biosciences Stock Up 2.0 %

Shares of Castle Biosciences stock opened at $33.31 on Tuesday. Castle Biosciences has a twelve month low of $16.20 and a twelve month high of $35.84. 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’s 50 day moving average is $30.78 and its 200 day moving average is $25.72. The company has a market cap of $919.69 million, a price-to-earnings ratio of 166.56 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.50% and a net margin of 1.95%. The firm had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. During the same period in the prior year, the firm earned ($0.26) EPS. Research analysts anticipate that Castle Biosciences will post -0.58 EPS for the current year.

Insider Activity

In related news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the sale, the director now owns 8,550 shares in the company, valued at $227,857.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the transaction, the insider now owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,201 shares of company stock worth $688,206 in the last three months. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

Several hedge funds have recently bought and sold shares of CSTL. Quest Partners LLC grew its position in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after purchasing an additional 1,522 shares in the last quarter. US Bancorp DE boosted its stake in Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after buying an additional 4,383 shares during the last quarter. Assetmark Inc. boosted its stake in Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after buying an additional 748 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after buying an additional 2,093 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 acquiring an additional 952 shares during the last quarter. Hedge funds and other institutional investors 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.