Analysts Set Castle Biosciences, Inc. (NASDAQ:CSTL) Target Price at $40.29

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $40.29.

Several brokerages recently weighed in on CSTL. Scotiabank increased their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Stephens restated an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 2nd. Robert W. Baird increased their target price on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Lake Street Capital increased their target price on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Canaccord Genuity Group increased their target price on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th.

Castle Biosciences Price Performance

Shares of NASDAQ:CSTL opened at $26.72 on Friday. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The company’s 50 day moving average is $27.76 and its 200 day moving average is $29.20. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company has a market cap of $748.43 million, a PE ratio of 133.61 and a beta of 0.91.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 9,364 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the completion of the sale, the insider now directly owns 84,762 shares of the company’s stock, valued at $2,402,155.08. This trade represents a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,771 shares of company stock valued at $886,112. 7.20% of the stock is owned by insiders.

Institutional Trading of Castle Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of CSTL. Algert Global LLC increased its position in shares of Castle Biosciences by 0.4% during the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock worth $3,831,000 after purchasing an additional 599 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Castle Biosciences by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after purchasing an additional 604 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Castle Biosciences by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company’s stock worth $394,000 after purchasing an additional 608 shares during the last quarter. Invesco Ltd. increased its position in shares of Castle Biosciences by 2.3% during the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company’s stock worth $734,000 after purchasing an additional 616 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Castle Biosciences by 7.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after purchasing an additional 675 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

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.