Castle Biosciences, Inc. (NASDAQ:CSTL – Get Rating) – Analysts at SVB Leerink boosted their Q1 2023 earnings per share estimates for shares of Castle Biosciences in a research report issued to clients and investors on Wednesday, September 21st. SVB Leerink analyst P. Souda now expects that the company will earn ($0.72) per share for the quarter, up from their prior estimate of ($0.74). SVB Leerink currently has a "Market Outperform" rating and a $50.00 price objective on the stock. The consensus estimate for Castle Biosciences' current full-year earnings is ($2.81) per share. SVB Leerink also issued estimates for Castle Biosciences' Q2 2023 earnings at ($0.55) EPS, Q3 2023 earnings at ($0.52) EPS, Q4 2023 earnings at ($0.48) EPS, FY2023 earnings at ($2.26) EPS and FY2024 earnings at ($1.30) EPS.

A number of other research firms have also recently issued reports on CSTL. Robert W. Baird increased their price target on Castle Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Tuesday, August 9th. BTIG Research increased their target price on Castle Biosciences to $47.00 in a report on Monday, August 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $58.86.

Castle Biosciences Stock Performance

Castle Biosciences (NASDAQ:CSTL – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.58) by $0.52. The firm had revenue of $34.84 million for the quarter, compared to analysts' expectations of $28.40 million. Castle Biosciences had a negative return on equity of 9.81% and a negative net margin of 40.37%. During the same period in the prior year, the business earned ($0.34) EPS.

Hedge Funds Weigh In On Castle Biosciences

Several large investors have recently bought and sold shares of the stock. American International Group Inc. lifted its stake in Castle Biosciences by 5.2% during the 2nd quarter. American International Group Inc. now owns 11,130 shares of the company's stock valued at $244,000 after acquiring an additional 552 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Castle Biosciences by 2.3% during the 2nd quarter. Rice Hall James & Associates LLC now owns 26,750 shares of the company's stock valued at $587,000 after purchasing an additional 599 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Castle Biosciences by 4.4% during the 1st quarter. Chartwell Investment Partners LLC now owns 14,508 shares of the company's stock valued at $651,000 after purchasing an additional 607 shares during the last quarter. Advisors Capital Management LLC increased its position in shares of Castle Biosciences by 3.6% during the 1st quarter. Advisors Capital Management LLC now owns 17,630 shares of the company's stock valued at $791,000 after purchasing an additional 617 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Castle Biosciences by 4.9% during the 1st quarter. Baird Financial Group Inc. now owns 14,349 shares of the company's stock valued at $644,000 after purchasing an additional 674 shares during the last quarter. 86.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 3,723 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $27.44, for a total value of $102,159.12. Following the transaction, the insider now directly owns 328,814 shares in the company, valued at approximately $9,022,656.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Castle Biosciences news, insider Derek J. Maetzold sold 4,118 shares of the firm's stock in a transaction on Monday, August 29th. The stock was sold at an average price of $29.56, for a total transaction of $121,728.08. Following the transaction, the insider now directly owns 312,414 shares in the company, valued at approximately $9,234,957.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 3,723 shares of the firm's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $27.44, for a total value of $102,159.12. Following the transaction, the insider now owns 328,814 shares in the company, valued at $9,022,656.16. The disclosure for this sale can be found here. Insiders have sold a total of 18,617 shares of company stock worth $526,462 in the last ninety days. Corporate insiders own 7.30% of the company's stock.

Castle Biosciences Company Profile

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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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