BlackRock Fund Advisors recently announced the acquisition of new stake in Castle Biosciences Inc. (NASDAQ:CSTL). The institutional investor has increased its shareholding in the Healthcare company by 0.61% to 1.77 million shares with purchase of 10669.0 shares. This fresh investment now brings its stake to 6.70% valued currently at $41.58 million. In addition, The Vanguard Group, Inc. raised its holdings by 37540.0 to 1.21 million shares. And Millennium Management LLC has lifted its position by 6.68% or 60252.0 shares – to 0.96 million shares.
With over 0.19 million Castle Biosciences Inc. (CSTL) shares trading Monday and a closing price of $27.00 on the day, the dollar volume was approximately $5.09 million. The shares have shown a positive half year performance of 6.13% and its price on 01/23/23 gained nearly 1.35%. Currently, there are 26.32M common shares owned by the public and among those 25.10M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for CSTL have a consensus price objective of $49.50. The analysts have set the share’s price value over the next 12 months at a high of $63.00 and a low of $40.00. The average price target is 45.45% above its recent price level and an upside to the estimated low will see the stock gain 32.5% over that period. But an upside of 57.14% will see the stock hit the forecast high price target while median target price for the stock is $48.50.
Insiders at the company have transacted a total of 333 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 162,523 shares. Insider sales of the common stock occurred on 307 occasions, with total insider shares sold totaling 274,912 shares.
The top 3 mutual fund holders in Castle Biosciences Inc. are Wasatch Ultra Growth Fund, Wasatch Small Cap Growth Fund, and Vanguard Total Stock Market Index. Wasatch Ultra Growth Fund owns 1.22 million shares of the company’s stock, all valued at over $28.69 million. The company sold 60261.0 shares recently to bring their total holdings to about 4.63% of the shares outstanding. Wasatch Small Cap Growth Fund sold -0.16 million shares to see its total holdings shrink to 0.85 million shares valued at over $19.99 million and representing 3.22% of the shares outstanding. Vanguard Total Stock Market Index bought 0.13 million shares to bring its total holdings to over 0.82 million shares at a value of $19.29 million. Vanguard Total Stock Market Index now owns shares totaling to 3.11% of the shares outstanding.
Shares of Castle Biosciences Inc. (NASDAQ: CSTL) opened at $26.56, down -$0.08 from a prior closing price of $26.64. However, the script later moved the day high at 27.57, up 1.35%. The company’s stock has a 5-day price change of -0.77% and 24.02% over the past three months. CSTL shares are trading 14.70% year to date (YTD), with the 12-month market performance down to -20.31% lower. It has a 12-month low price of $15.58 and touched a high of $48.40 over the same period. CSTL has an average intraday trading volume of 191.27K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.06%, 16.21%, and 9.56% respectively.
Institutional ownership of Castle Biosciences Inc. (NASDAQ: CSTL) shares accounts for 84.60% of the company’s 26.32M shares outstanding. Mutual fund holders own 42.41%, while other institutional holders and individual stakeholders account for 9.63% and 42.27% respectively.
It has a market capitalization of $699.30M and a beta (3y monthly) value of 1.01. The earnings-per-share (ttm) stands at -$2.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.13% over the week and 6.08% over the month.
Analysts forecast that Castle Biosciences Inc. (CSTL) will achieve an EPS of -$0.88 for the current quarter, -$0.91 for the next quarter and -$3.2 for 2023. The lowest estimate earnings-per-share for the quarter is -$1.06 while analysts give the company a high EPS estimate of -$0.41. Comparatively, EPS for the current quarter was -$0.47 a year ago. Earnings per share for the fiscal year are expected to decrease by -129.10%, and -13.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Castle Biosciences Inc. (CSTL) as a “Strong Buy” at a consensus score of 1.40. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CSTL, a number of firms have released research notes about the stock. Scotiabank stated their Sector Outperform rating for the stock in a research note on January 05, 2023, with the firm’s price target at $54. Stephens coverage for the Castle Biosciences Inc. (CSTL) stock in a research note released on January 07, 2022 offered a Overweight rating with a price target of $59. Lake Street was of a view on April 30, 2021 that the stock is Buy, while KeyBanc Capital Markets gave the stock Overweight rating on November 10, 2020, issuing a price target of $70. Canaccord Genuity on their part issued Buy rating on December 27, 2019.
