Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Consensus Rating of “Buy” from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given a consensus rating of “Buy” by the seven brokerages that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $40.29.

CSTL has been the subject of a number of research reports. Scotiabank upped their target price 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. Robert W. Baird upped their target price on shares of Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. KeyCorp upped their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their target price on shares of 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

Castle Biosciences stock opened at $25.75 on Friday. Castle Biosciences has a 52-week low of $16.97 and a 52-week high of $35.84. The firm has a market capitalization of $721.26 million, a price-to-earnings ratio of 128.76 and a beta of 0.91. The company has a fifty day simple moving average of $27.53 and a 200-day simple moving average of $29.26. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Insider Transactions at Castle Biosciences

In other news, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.14, for a total transaction of $229,244.38. Following the sale, the director now owns 1,425 shares of the company’s stock, valued at approximately $41,524.50. This represents a 84.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Derek J. Maetzold sold 9,364 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total transaction of $265,375.76. Following the sale, the insider now directly owns 84,762 shares in the company, valued at $2,402,155.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,771 shares of company stock valued at $886,112. 7.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Castle Biosciences

Several hedge funds have recently made changes to their positions in CSTL. Wellington Management Group LLP acquired a new stake in shares of Castle Biosciences during the fourth quarter worth about $19,244,000. Point72 Asset Management L.P. raised its holdings 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 acquiring an additional 445,415 shares in the last quarter. Millennium Management LLC raised its holdings in Castle Biosciences by 290.5% in 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 in the last quarter. BNP Paribas Financial Markets acquired a new stake in Castle Biosciences in the fourth quarter valued at approximately $6,639,000. Finally, Captrust Financial Advisors raised its holdings in 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 acquiring an additional 207,250 shares in the last quarter. Institutional investors and hedge funds 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.