Canaccord Genuity began coverage of Castle Biosciences with a Buy rating and a $26 price target, while SVB Leerink assigned an Outperform rating and a $28 price target.
The immune sequencing firm is working on kit-ifying its two existing tests, as well as developing a second clinical test and expanding the label for clonoSeq.
In its first quarter operating as a public company, the Seattle-based immune sequencing firm more than tripled development revenues and grew sequencing revenues.
The company is forging ahead with its Signatera liquid biopsy circulating tumor DNA minimal residual disease (MRD) test and Prospera transplant assessment assay.
The national project has developed infrastructure for implementing genomics into clinical care and is now studying clinical utility and cost effectiveness.
Revenues from product and product-related services more than doubled to $4.4 million, but collaborative development revenues sank 52 percent to $1.4 million.
Blue Cross Blue Shield of Michigan's members will able to access Interpace's tests on an in-network basis, which will limit their out-of-pocket expenses.
