Castle Biosciences (NASDAQ:CSTL) Shares Up 4.7% – Still a Buy?

Castle Biosciences, Inc. (NASDAQ:CSTL) shares rose 4.7% during mid-day trading on Tuesday . The stock traded as high as $20.65 and last traded at $20.83. Approximately 190,397 shares traded hands during trading, a decline of 49% from the average daily volume of 376,418 shares. The stock had previously closed at $19.89.

Analysts Set New Price Targets

CSTL has been the subject of several recent research reports. Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the company a “buy” rating in a research note on Friday, March 28th. Stephens reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 2nd. Finally, Robert W. Baird increased their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences has a consensus rating of “Buy” and a consensus target price of $38.75.

Castle Biosciences Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The firm has a market capitalization of $607.06 million, a P/E ratio of 105.26 and a beta of 1.11. The business has a fifty day moving average of $22.18 and a 200-day moving average of $27.03.

Insider Activity

In related news, insider Derek J. Maetzold sold 1,236 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total transaction of $25,090.80. Following the sale, the insider now owns 77,099 shares of the company’s stock, valued at $1,565,109.70. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction on Wednesday, February 5th. The shares were 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. Over the last ninety days, insiders have sold 34,085 shares of company stock valued at $748,045. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Covestor Ltd acquired a new position in Castle Biosciences in the fourth quarter worth approximately $25,000. R Squared Ltd acquired a new position in shares of Castle Biosciences in the 4th quarter worth $42,000. GAMMA Investing LLC raised its position in shares of Castle Biosciences by 1,865.8% during the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock worth $87,000 after purchasing an additional 4,142 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Castle Biosciences during the fourth quarter valued at $128,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Castle Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock worth $158,000 after buying an additional 604 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.