Castle Biosciences (NASDAQ:CSTL) Price Target Increased to $34.00 by Analysts at Robert W. Baird

Castle Biosciences (NASDAQ:CSTL) had its target price increased by Robert W. Baird from $33.00 to $34.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. KeyCorp lifted their price objective on shares of Castle Biosciences from $25.00 to $28.00 and gave the company an overweight rating in a research report on Friday, March 1st. Scotiabank lifted their target price on shares of Castle Biosciences from $33.00 to $37.00 and gave the company a sector outperform rating in a report on Friday, March 1st.

Castle Biosciences Price Performance

Shares of NASDAQ:CSTL traded up $1.49 on Friday, reaching $24.33. The company’s stock had a trading volume of 839,813 shares, compared to its average volume of 158,711. Castle Biosciences has a 52-week low of $9.26 and a 52-week high of $26.70. The stock has a market capitalization of $667.86 million, a P/E ratio of -21.16 and a beta of 0.93. The stock’s 50-day moving average is $20.86 and its two-hundred day moving average is $20.33.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.74. Castle Biosciences had a negative return on equity of 7.99% and a negative net margin of 12.28%. The firm had revenue of $66.12 million during the quarter, compared to the consensus estimate of $51.32 million. Equities analysts forecast that Castle Biosciences will post -2.41 earnings per share for the current fiscal year.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,947 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $20.35, for a total value of $39,621.45. Following the completion of the transaction, the insider now directly owns 65,418 shares of the company’s stock, valued at $1,331,256.30. The sale was disclosed in a filing with the SEC, which is available at this link. In other Castle Biosciences news, insider Derek J. Maetzold sold 1,947 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $20.35, for a total transaction of $39,621.45. Following the sale, the insider now directly owns 65,418 shares in the company, valued at $1,331,256.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 23,323 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $20.68, for a total value of $482,319.64. Following the sale, the director now owns 25,907 shares in the company, valued at approximately $535,756.76. The disclosure for this sale can be found here. Insiders have sold a total of 50,483 shares of company stock valued at $1,059,531 in the last ninety days. 7.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Castle Biosciences

Several hedge funds have recently made changes to their positions in the business. BluePath Capital Management LLC purchased a new position in Castle Biosciences during the third quarter worth about $31,000. RiverPark Advisors LLC boosted 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 worth $63,000 after acquiring an additional 2,242 shares during the last quarter. Assetmark Inc. raised its stake in Castle Biosciences by 34.2% during the third quarter. Assetmark Inc. now owns 3,904 shares of the company’s stock worth $66,000 after purchasing an additional 994 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Castle Biosciences by 351.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,110 shares of the company’s stock valued at $67,000 after buying an additional 2,421 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Castle Biosciences by 74.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,797 shares of the company’s stock worth $115,000 after buying an additional 2,909 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.