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

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

CSTL has been the topic of several other reports. Lake Street Capital boosted their target price on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. KeyCorp boosted their target price on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Canaccord Genuity Group boosted their target price 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 boosted their target price on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, 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 report on Tuesday, November 5th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $37.88.

Castle Biosciences Price Performance

Shares of Castle Biosciences stock opened at $33.29 on Wednesday. The company has a quick ratio of 7.92, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences has a twelve month low of $16.20 and a twelve month high of $35.84. The business has a 50-day moving average price of $30.92 and a 200 day moving average price of $25.87. The firm has a market cap of $932.45 million, a PE ratio of 166.46 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating 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 analyst estimates of $78.55 million. During the same quarter in the previous year, the business earned ($0.26) EPS. Sell-side analysts predict that Castle Biosciences will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Castle Biosciences

In other news, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $26.65, for a total transaction of $210,081.95. Following the sale, the director now owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Tobin W. Juvenal sold 3,507 shares of the company’s stock in a transaction dated 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 directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the completion of the sale, the director now directly owns 8,550 shares of the company’s stock, valued at approximately $227,857.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,201 shares of company stock valued at $688,206. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Castle Biosciences

A number of hedge funds have recently added to or reduced their stakes in CSTL. Quest Partners LLC raised its stake in shares of Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after buying an additional 1,522 shares in the last quarter. US Bancorp DE raised its stake in shares of Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after buying an additional 4,383 shares in the last quarter. Assetmark Inc. raised its stake in shares of Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Castle Biosciences by 64.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after buying an additional 2,093 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Castle Biosciences in the 3rd quarter valued at approximately $236,000. 92.60% of the stock is owned by institutional investors and hedge funds.

About Castle Biosciences

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.