KeyCorp Forecasts Strong Price Appreciation for Castle Biosciences (NASDAQ:CSTL) Stock

Castle Biosciences (NASDAQ:CSTL) had its price target upped by stock analysts at KeyCorp from $28.00 to $36.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 10.23% from the stock’s current price.

CSTL has been the topic of several other reports. Robert W. Baird boosted their price target on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group upped their price target on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. BTIG Research upped their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Stephens reiterated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $37.88.

Castle Biosciences Price Performance

Shares of CSTL opened at $32.66 on Tuesday. Castle Biosciences has a 52-week low of $16.20 and a 52-week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.92 and a current ratio of 8.12. The business’s 50 day moving average price is $30.78 and its two-hundred day moving average price is $25.72. The firm has a market cap of $901.64 million, a PE ratio of 163.30 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The firm had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. On average, equities analysts anticipate that Castle Biosciences will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the sale, the insider now owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the sale, the insider now owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $32.27, for a total value of $63,636.44. Following the completion of the sale, the insider now directly owns 91,664 shares in the company, valued at approximately $2,957,997.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,694 shares of company stock valued at $563,497. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Castle Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Castle Biosciences by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after acquiring an additional 32,695 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Castle Biosciences by 130.7% in the 1st quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock valued at $4,669,000 after acquiring an additional 119,443 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Castle Biosciences by 249.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock valued at $3,020,000 after buying an additional 99,001 shares in the last quarter. Summit Global Investments purchased a new position in shares of Castle Biosciences during the 2nd quarter valued at about $518,000. Finally, SG Americas Securities LLC purchased a new position in shares of Castle Biosciences during the 2nd quarter valued at about $588,000. Hedge funds and other institutional investors 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.