Lake Street Capital Issues Pessimistic Forecast for Castle Biosciences (NASDAQ:CSTL) Stock Price

Castle Biosciences (NASDAQ:CSTL) had its price target trimmed by Lake Street Capital from $40.00 to $35.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on CSTL. Robert W. Baird boosted their price objective on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Canaccord Genuity Group lowered their price target on Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the stock a “buy” rating in a report on Friday, March 28th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $37.50.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $17.21 on Tuesday. Castle Biosciences has a 1-year low of $15.70 and a 1-year high of $35.84. The firm has a market capitalization of $496.42 million, a PE ratio of 86.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The business’s fifty day moving average price is $19.94 and its two-hundred day moving average price is $25.76.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The firm had revenue of $87.99 million during the quarter, compared to the consensus estimate of $80.40 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. On average, research analysts expect that Castle Biosciences will post 0.44 EPS for the current year.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the sale, the insider now directly owns 77,099 shares in the company, valued at approximately $1,565,109.70. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 27,454 shares of company stock worth $553,030 over the last 90 days. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Castle Biosciences by 165.2% during the third quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock worth $1,980,000 after buying an additional 43,241 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 valued at $43,879,000 after acquiring an additional 40,377 shares during the last quarter. Barclays PLC boosted its stake in shares of Castle Biosciences by 310.7% during the 3rd quarter. Barclays PLC now owns 52,301 shares of the company’s stock worth $1,491,000 after acquiring an additional 39,567 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Castle Biosciences by 4.6% during the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock worth $568,000 after acquiring an additional 928 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Castle Biosciences by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company’s stock worth $26,636,000 after acquiring an additional 134,645 shares during the last quarter. Institutional investors and hedge funds 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.