Castle Biosciences (NASDAQ:CSTL – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.
Other analysts have also recently issued reports about the stock. BTIG Research upped their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. KeyCorp set a $35.00 price objective on shares of Castle Biosciences in a research note on Friday, May 29th. Robert W. Baird set a $36.00 target price on shares of Castle Biosciences in a report on Friday, July 31st. Roth Capital initiated coverage on Castle Biosciences in a report on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.
View Our Latest Report on CSTL
Castle Biosciences Stock Performance
Castle Biosciences (NASDAQ:CSTL – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. The firm had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. As a group, research analysts anticipate that Castle Biosciences will post -1.29 EPS for the current year.
Insider Activity at Castle Biosciences
In other Castle Biosciences news, insider Derek Maetzold sold 20,356 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $31.11, for a total value of $633,275.16. Following the sale, the insider directly owned 21,479 shares in the company, valued at $668,211.69. This represents a 48.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 12,384 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $34.42, for a total transaction of $426,257.28. Following the completion of the transaction, the chief operating officer directly owned 72,649 shares of the company’s stock, valued at approximately $2,500,578.58. The trade was a 14.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 196,854 shares of company stock valued at $6,083,615. Corporate insiders own 6.10% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in Castle Biosciences during the second quarter valued at $26,000. Quantbot Technologies LP purchased a new stake in shares of Castle Biosciences in the 2nd quarter valued at about $62,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Castle Biosciences by 140.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock valued at $68,000 after acquiring an additional 1,022 shares during the last quarter. State of Wyoming bought a new stake in shares of Castle Biosciences during the 2nd quarter valued at about $117,000. Finally, Assetmark Inc. grew its holdings in shares of Castle Biosciences by 9.3% during the first quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock worth $142,000 after purchasing an additional 492 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.
Castle Biosciences Company Profile
Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians make more informed decisions about cancer diagnosis and treatment. Its products use genomic and molecular information to assess disease characteristics, patient risk and likely outcomes.
The company’s portfolio includes DecisionDx-Melanoma, which helps assess the risk of metastasis in patients with cutaneous melanoma; DecisionDx-SCC, which evaluates metastatic risk in certain patients with cutaneous squamous cell carcinoma; and MyPath Melanoma, which assists in distinguishing benign from malignant melanocytic lesions.
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