Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $57.86 Average Target Price from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating) has been assigned a consensus rating of “Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $57.38.

Several research analysts have recently weighed in on the stock. Scotiabank assumed coverage on shares of Castle Biosciences in a research note on Wednesday. They issued a “sector outperform” rating and a $54.00 target price for the company. Robert W. Baird decreased their target price on shares of Castle Biosciences from $48.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 2,869 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $20.84, for a total value of $59,789.96. Following the sale, the insider now directly owns 289,520 shares of the company’s stock, valued at $6,033,596.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Castle Biosciences news, insider Derek J. Maetzold sold 3,483 shares of the stock in a transaction on Monday, October 24th. The shares were sold at an average price of $20.41, for a total transaction of $71,088.03. Following the sale, the insider now directly owns 296,572 shares of the company’s stock, valued at $6,053,034.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek J. Maetzold sold 2,869 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $20.84, for a total transaction of $59,789.96. Following the sale, the insider now directly owns 289,520 shares in the company, valued at $6,033,596.80. The disclosure for this sale can be found here. Insiders have sold 26,115 shares of company stock valued at $591,914 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Castle Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of CSTL. Point72 Hong Kong Ltd increased its holdings in shares of Castle Biosciences by 827.0% in the 3rd quarter. Point72 Hong Kong Ltd now owns 1,168 shares of the company’s stock worth $30,000 after acquiring an additional 1,042 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Castle Biosciences in the 1st quarter worth about $57,000. Tower Research Capital LLC TRC increased its holdings in shares of Castle Biosciences by 61.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,821 shares of the company’s stock worth $47,000 after acquiring an additional 691 shares during the period. Ensign Peak Advisors Inc increased its holdings in shares of Castle Biosciences by 247.2% in the 3rd quarter. Ensign Peak Advisors Inc now owns 3,090 shares of the company’s stock worth $81,000 after acquiring an additional 2,200 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Castle Biosciences in the 1st quarter worth about $152,000. 82.43% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Trading Down 0.2 %

Shares of CSTL stock opened at $22.80 on Wednesday. The company has a market capitalization of $600.83 million, a PE ratio of -11.12 and a beta of 1.00. The firm has a fifty day simple moving average of $22.76 and a 200-day simple moving average of $25.25. Castle Biosciences has a twelve month low of $15.58 and a twelve month high of $48.40.

Castle Biosciences (NASDAQ:CSTL – Get Rating) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.07). The firm had revenue of $37.01 million during the quarter, compared to analysts’ expectations of $34.36 million. Castle Biosciences had a negative net margin of 42.79% and a negative return on equity of 11.87%. Equities research analysts predict that Castle Biosciences will post -2.91 EPS for the current year.

Castle Biosciences Company Profile

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Castle Biosciences, Inc, a commercial-stage diagnostics company, focuses to provide diagnostic and prognostic testing services for dermatological cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma.