Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) Target Price at $38.75

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is $38.75.

CSTL has been the subject of a number of recent analyst reports. Stephens reiterated an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a report on Thursday, January 2nd. Robert W. Baird upped their price target on Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the company a “buy” rating in a research report on Friday, March 28th.

Insider Activity

In other news, 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 transaction of $221,613.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Derek J. Maetzold sold 986 shares of the firm’s stock in a transaction 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 owns 80,818 shares in the company, valued at approximately $2,265,328.54. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,858 shares of company stock worth $771,416 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently added to or reduced their stakes in the company. Summit Global Investments boosted its position in shares of Castle Biosciences by 7.6% during the first quarter. Summit Global Investments now owns 30,640 shares of the company’s stock worth $613,000 after buying an additional 2,164 shares during the period. GAMMA Investing LLC boosted its position in Castle Biosciences by 1,865.8% during the 1st quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock worth $87,000 after acquiring an additional 4,142 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Castle Biosciences during the 4th quarter worth approximately $19,244,000. Mackenzie Financial Corp acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at approximately $560,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Castle Biosciences by 18.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,018 shares of the company’s stock worth $1,759,000 after purchasing an additional 10,486 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Price Performance

CSTL opened at $20.11 on Monday. The company has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $27.23. The firm has a market capitalization of $579.95 million, a PE ratio of 100.56 and a beta of 1.11. Castle Biosciences has a 52 week low of $16.97 and a 52 week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

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.