Castle Biosciences (NASDAQ:CSTL) Given New $42.00 Price Target at Canaccord Genuity Group

by · The Markets Daily

Castle Biosciences (NASDAQ:CSTL – Free Report) had its target price increased by Canaccord Genuity Group from $35.00 to $42.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on CSTL. Robert W. Baird lifted their price objective 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 reissued an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. Finally, BTIG Research raised their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences has a consensus rating of “Buy” and an average price target of $35.14.

Get Our Latest Research Report on CSTL

Castle Biosciences Trading Up 4.3 %

Shares of NASDAQ:CSTL opened at $33.78 on Tuesday. The firm has a market cap of $932.56 million, a price-to-earnings ratio of -241.29 and a beta of 1.03. Castle Biosciences has a 12 month low of $12.95 and a 12 month high of $34.50. The company’s fifty day simple moving average is $30.22 and its 200 day simple moving average is $25.16. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL – Get Free Report) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.47. The firm had revenue of $87.00 million for the quarter, compared to the consensus estimate of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same quarter last year, the business posted ($0.70) EPS. As a group, research analysts forecast that Castle Biosciences will post -0.58 EPS for the current fiscal year.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 94,622 shares in the company, valued at approximately $2,718,490.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the firm’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 completion of the sale, the insider now owns 94,622 shares of the company’s stock, valued at $2,718,490.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences stock in a transaction on Monday, October 14th. The stock was sold at an average price of $32.27, for a total transaction of $63,636.44. Following the transaction, the insider now directly owns 91,664 shares of the company’s stock, valued at approximately $2,957,997.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,683 shares of company stock worth $1,120,023 in the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. RiverPark Advisors LLC grew its position in shares of Castle Biosciences by 362.2% in the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock valued at $63,000 after purchasing an additional 2,242 shares during the last quarter. US Bancorp DE boosted its stake in Castle Biosciences by 1,889.2% in the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after purchasing an additional 4,383 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Castle Biosciences by 64.6% in 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. Denali Advisors LLC bought a new position in Castle Biosciences during the 1st quarter worth $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Castle Biosciences by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after buying an additional 952 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Castle Biosciences

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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.

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