Castle Biosciences (NASDAQ:CSTL – Get Free Report) had its target price raised by equities research analysts at Robert W. Baird from $39.00 to $41.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird‘s price objective points to a potential upside of 26.08% from the company’s current price.
CSTL has been the topic of a number of other reports. KeyCorp raised their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday. BTIG Research upped their target price on shares of Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Castle Biosciences in a research note on Thursday, October 29th. Mizuho assumed coverage on Castle Biosciences in a report on Thursday, October 29th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Wall Street Zen raised Castle Biosciences from a “hold” rating to a “buy” rating in a research note on Sunday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.
Read Our Latest Stock Report on CSTL
Castle Biosciences Price Performance
CSTL opened at $32.52 on Monday. The company has a quick ratio of 5.12, a current ratio of 5.28 and a debt-to-equity ratio of 0.01. Castle Biosciences has a 12 month low of $17.72 and a 12 month high of $44.28. The company has a fifty day simple moving average of $34.25 and a 200 day simple moving average of $28.53. The stock has a market cap of $993.49 million, a P/E ratio of -42.23 and a beta of 1.00.
Castle Biosciences (NASDAQ:CSTL – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.22. The firm had revenue of $101.95 million for the quarter, compared to analyst estimates of $92.77 million. Castle Biosciences had a negative return on equity of 4.89% and a negative net margin of 6.10%. On average, research analysts expect that Castle Biosciences will post -1.29 EPS for the current year.
Insider Activity at Castle Biosciences
In other Castle Biosciences news, insider Tobin W. Juvenal sold 9,050 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $35.04, for a total transaction of $317,112.00. Following the sale, the insider directly owned 66,914 shares of the company’s stock, valued at $2,344,666.56. The trade was a 11.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek Maetzold sold 12,428 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $33.20, for a total transaction of $412,609.60. Following the transaction, the insider owned 21,479 shares of the company’s stock, valued at approximately $713,102.80. This represents a 36.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 126,184 shares of company stock valued at $4,324,506. Corporate insiders own 6.10% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of CSTL. BlackRock Inc. bought a new position in shares of Castle Biosciences in the second quarter valued at $78,513,000. Jefferies Financial Group Inc. acquired a new stake in Castle Biosciences in the second quarter valued at $15,440,000. Renaissance Technologies LLC lifted its stake in Castle Biosciences by 8.1% in the first quarter. Renaissance Technologies LLC now owns 532,800 shares of the company’s stock valued at $13,080,000 after acquiring an additional 39,700 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in Castle Biosciences in the second quarter valued at $13,001,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Castle Biosciences in the 2nd quarter valued at about $7,912,000. 92.60% of the stock is owned by institutional investors and hedge funds.
About Castle Biosciences
Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.
Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.
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