Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) Target Price at $40.00

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $40.00.

Several brokerages have issued reports on CSTL. Robert W. Baird boosted their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd.

Insiders Place Their Bets

In related news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction on Monday, January 6th. The stock was sold at an average price of $29.14, for a total transaction of $229,244.38. Following the completion of the transaction, the director now directly owns 1,425 shares of the company’s stock, valued at approximately $41,524.50. The trade was a 84.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Derek J. Maetzold sold 9,364 shares of Castle Biosciences 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 transaction, the insider now directly owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. This represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,568 shares of company stock worth $1,321,364. 7.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd acquired a new position in shares of Castle Biosciences in the fourth quarter worth $25,000. R Squared Ltd acquired a new position in Castle Biosciences in the 4th quarter valued at about $42,000. Quest Partners LLC lifted its holdings in Castle Biosciences by 54.4% in the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after purchasing an additional 1,522 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Castle Biosciences during the 4th quarter worth about $128,000. Finally, US Bancorp DE boosted its stake in shares of Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after purchasing an additional 4,383 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Shares of CSTL opened at $19.29 on Thursday. 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 stock has a market capitalization of $540.26 million, a P/E ratio of 96.45 and a beta of 0.98. The company’s fifty day moving average is $25.80 and its two-hundred day moving average is $28.63. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84.

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.