Castle Biosciences (NASDAQ:CSTL) Price Target Cut to $44.00

Castle Biosciences (NASDAQ:CSTLGet Rating) had its price objective lowered by Robert W. Baird from $50.00 to $44.00 in a research note issued to investors on Tuesday morning, The Fly reports.

Several other equities analysts have also commented on CSTL. Canaccord Genuity Group reduced their target price on shares of Castle Biosciences from $94.00 to $80.00 and set a buy rating on the stock in a report on Tuesday, April 5th. Zacks Investment Research lowered shares of Castle Biosciences from a hold rating to a sell rating in a report on Thursday, April 28th. Lake Street Capital cut their price target on shares of Castle Biosciences from $94.00 to $63.00 in a report on Tuesday, March 1st. Finally, Canaccord Genuity Group cut their price target on shares of Castle Biosciences from $94.00 to $80.00 and set a buy rating on the stock in a report on Tuesday, April 5th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $62.57.

NASDAQ CSTL opened at $19.71 on Tuesday. Castle Biosciences has a 1 year low of $17.01 and a 1 year high of $78.92. The stock has a market capitalization of $517.60 million, a PE ratio of -9.66 and a beta of 1.11. The company’s 50 day simple moving average is $32.66 and its two-hundred day simple moving average is $39.92.

Castle Biosciences (NASDAQ:CSTLGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.26). Castle Biosciences had a negative net margin of 52.62% and a negative return on equity of 11.53%. During the same quarter in the previous year, the firm posted ($0.17) EPS. On average, analysts forecast that Castle Biosciences will post -2.7 EPS for the current fiscal year.

In other news, Director Daniel Bradbury sold 8,852 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $45.32, for a total value of $401,172.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 26,556 shares of company stock valued at $1,084,813. Corporate insiders own 39.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc purchased a new stake in shares of Castle Biosciences in the 4th quarter worth about $38,000. First Horizon Advisors Inc. lifted its position in Castle Biosciences by 161.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 999 shares of the company’s stock valued at $57,000 after acquiring an additional 617 shares during the period. Lazard Asset Management LLC purchased a new position in Castle Biosciences during the 1st quarter valued at about $57,000. UBS Group AG lifted its position in Castle Biosciences by 84.7% during the 3rd quarter. UBS Group AG now owns 1,256 shares of the company’s stock valued at $83,000 after acquiring an additional 576 shares during the period. Finally, Moors & Cabot Inc. purchased a new position in Castle Biosciences during the 3rd quarter valued at about $113,000. 84.29% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Company Profile (Get Rating)

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.

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