Castle Biosciences (NASDAQ:CSTL) Given New $34.00 Price Target at Robert W. Baird

Castle Biosciences (NASDAQ:CSTL) had its price objective lifted by Robert W. Baird from $33.00 to $34.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently weighed in on CSTL. KeyCorp raised their price target on Castle Biosciences from $25.00 to $28.00 and gave the company an overweight rating in a report on Friday, March 1st. Scotiabank upped their target price on shares of Castle Biosciences from $33.00 to $37.00 and gave the stock a sector outperform rating in a research report on Friday, March 1st.

Castle Biosciences Stock Up 6.5 %

CSTL traded up $1.49 during midday trading on Friday, reaching $24.33. 839,813 shares of the company’s stock were exchanged, compared to its average volume of 158,711. The business has a 50-day simple moving average of $20.86 and a two-hundred day simple moving average of $20.33. The firm has a market capitalization of $667.86 million, a price-to-earnings ratio of -21.16 and a beta of 0.93. Castle Biosciences has a one year low of $9.26 and a one year high of $26.70.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results 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 business had revenue of $66.12 million for the quarter, compared to analyst estimates of $51.32 million. As a group, research analysts anticipate that Castle Biosciences will post -2.41 EPS for the current fiscal year.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 2,074 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $23.20, for a total value of $48,116.80. Following the transaction, the director now directly owns 33,870 shares of the company’s stock, valued at $785,784. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Castle Biosciences news, Director Daniel Bradbury sold 2,074 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $23.20, for a total transaction of $48,116.80. Following the completion of the sale, the director now owns 33,870 shares in the company, valued at approximately $785,784. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek J. Maetzold sold 4,131 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.41, for a total value of $88,444.71. Following the completion of the transaction, the insider now owns 74,473 shares in the company, valued at $1,594,466.93. The disclosure for this sale can be found here. Insiders sold a total of 50,483 shares of company stock worth $1,059,531 in the last quarter. 7.20% of the stock is owned by company insiders.

Institutional Trading of Castle Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of CSTL. Bank of New York Mellon Corp grew its holdings in Castle Biosciences by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 81,141 shares of the company’s stock valued at $1,370,000 after purchasing an additional 1,058 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Castle Biosciences by 74.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,797 shares of the company’s stock worth $115,000 after purchasing an additional 2,909 shares in the last quarter. BluePath Capital Management LLC acquired a new position in shares of Castle Biosciences in the 3rd quarter valued at $31,000. Assetmark Inc. increased its position in shares of Castle Biosciences by 34.2% in the 3rd quarter. Assetmark Inc. now owns 3,904 shares of the company’s stock valued at $66,000 after buying an additional 994 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Castle Biosciences by 106.2% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 53,341 shares of the company’s stock worth $901,000 after buying an additional 27,470 shares during the period. 92.60% of the stock is owned by 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.