KeyCorp Increases Castle Biosciences (NASDAQ:CSTL) Price Target to $36.00

Castle Biosciences (NASDAQ:CSTL) had its price objective lifted by research analysts at KeyCorp from $28.00 to $36.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 10.23% from the company’s previous close.

Several other equities research analysts also recently issued reports on CSTL. Canaccord Genuity Group raised their price target on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Robert W. Baird raised their price target on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Finally, BTIG Research raised their price target on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $37.88.

Castle Biosciences Price Performance

NASDAQ:CSTL opened at $32.66 on Tuesday. Castle Biosciences has a 1-year low of $16.20 and a 1-year high of $35.84. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $30.78 and a 200 day simple moving average of $25.72. The stock has a market capitalization of $901.64 million, a PE ratio of 163.30 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last released its 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 negative net margin of 1.08% and a negative return on equity of 0.77%. The business had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. During the same period last year, the business earned ($0.26) earnings per share. On average, research analysts expect that Castle Biosciences will post -0.58 EPS for the current fiscal year.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences stock in a transaction on Monday, October 14th. The stock was sold at an average price of $32.27, for a total transaction of $63,636.44. Following the completion of the sale, the insider now owns 91,664 shares of the company’s stock, valued at approximately $2,957,997.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $26.65, for a total value of $210,081.95. Following the transaction, the director now owns 8,550 shares in the company, valued at $227,857.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Derek J. Maetzold sold 1,972 shares of Castle Biosciences 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 transaction, the insider now owns 91,664 shares in the company, valued at approximately $2,957,997.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,694 shares of company stock valued at $563,497. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after purchasing an additional 4,383 shares during the last quarter. Assetmark Inc. boosted its holdings in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after acquiring an additional 748 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock valued at $152,000 after acquiring an additional 2,093 shares during the last quarter. First Bank & Trust bought a new stake in Castle Biosciences in the third quarter valued at approximately $261,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after acquiring an additional 952 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.