Castle Biosciences (NASDAQ:CSTL) Given New $44.00 Price Target at Scotiabank

Castle Biosciences (NASDAQ:CSTL) had its price objective hoisted by Scotiabank from $37.00 to $44.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

CSTL has been the subject of a number of other research reports. Robert W. Baird upped their price objective on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. KeyCorp upped their price target on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. BTIG Research upped their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Lake Street Capital upped their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences currently has an average rating of “Buy” and an average target price of $37.88.

Castle Biosciences Trading Down 0.1 %

Castle Biosciences stock opened at $33.29 on Wednesday. Castle Biosciences has a 12 month low of $16.20 and a 12 month high of $35.84. The business’s fifty day simple moving average is $30.92 and its two-hundred day simple moving average is $25.87. The company has a current ratio of 7.78, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $932.45 million, a price-to-earnings ratio of 166.46 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The firm had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. During the same quarter in the previous year, the business earned ($0.26) earnings per share. As a group, equities analysts predict that Castle Biosciences will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 94,622 shares in the company, valued at $2,718,490.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the sale, the insider now directly owns 94,622 shares in the company, valued at approximately $2,718,490.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tobin W. Juvenal sold 3,507 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the sale, the insider now owns 54,178 shares in the company, valued at approximately $1,926,569.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,201 shares of company stock worth $688,206 over the last ninety days. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CSTL. Quest Partners LLC boosted its position in Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares in the last quarter. US Bancorp DE boosted its position in Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after acquiring an additional 4,383 shares in the last quarter. Assetmark Inc. boosted its position in shares of Castle Biosciences by 16.8% in the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $152,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after purchasing an additional 952 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.