Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Recommendation of “Buy” by Analysts

Castle Biosciences, Inc. (NASDAQ:CSTL) has received a consensus rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have covered the stock in the last year is $40.00.

Several equities analysts recently commented on CSTL shares. Robert W. Baird boosted their price target on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a report on Thursday, January 2nd.

Castle Biosciences Stock Up 0.5 %

Shares of Castle Biosciences stock opened at $19.63 on Thursday. The company has a fifty day moving average price of $26.17 and a 200 day moving average price of $28.77. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The stock has a market cap of $549.78 million, a price-to-earnings ratio of 98.15 and a beta of 0.98.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.03, for a total transaction of $27,637.58. Following the sale, the insider now directly owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $29.14, for a total value of $229,244.38. Following the transaction, the director now owns 1,425 shares in the company, valued at $41,524.50. This trade represents a 84.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,568 shares of company stock worth $1,321,364 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of Castle Biosciences in the 4th quarter worth approximately $19,244,000. Point72 Asset Management L.P. lifted its stake in Castle Biosciences by 828.3% in the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock valued at $14,237,000 after buying an additional 445,415 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Castle Biosciences by 290.5% during the fourth quarter. Millennium Management LLC now owns 548,809 shares of the company’s stock valued at $14,626,000 after acquiring an additional 408,272 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Castle Biosciences during the fourth quarter worth about $6,639,000. Finally, Captrust Financial Advisors increased its stake in shares of Castle Biosciences by 2,567.5% in the fourth quarter. Captrust Financial Advisors now owns 215,322 shares of the company’s stock valued at $5,738,000 after purchasing an additional 207,250 shares during the period. Institutional investors own 92.60% of the company’s stock.

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.