Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $40.00 Consensus Target Price from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given an average rating of “Buy” by the seven research firms that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $40.00.

CSTL has been the subject of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Robert W. Baird lifted their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 28th.

Castle Biosciences Stock Up 0.2 %

Castle Biosciences stock opened at $20.54 on Thursday. The business’s 50-day moving average price is $25.14 and its 200 day moving average price is $28.44. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The firm has a market cap of $575.26 million, a price-to-earnings ratio of 102.71 and a beta of 0.98. Castle Biosciences has a 52 week low of $16.97 and a 52 week high of $35.84.

Insiders Place Their Bets

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 2,715 shares of Castle Biosciences stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $29.62, for a total value of $80,418.30. Following the completion of the sale, the insider now directly owns 82,047 shares in the company, valued at $2,430,232.14. This represents a 3.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,204 shares of company stock worth $1,055,988. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Castle Biosciences by 147.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after buying an additional 98,571 shares during the last quarter. Barclays PLC lifted its stake in Castle Biosciences by 310.7% in the 3rd quarter. Barclays PLC now owns 52,301 shares of the company’s stock worth $1,491,000 after purchasing an additional 39,567 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Castle Biosciences by 165.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock worth $1,980,000 after purchasing an additional 43,241 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Castle Biosciences in the third quarter valued at approximately $1,478,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Castle Biosciences by 16.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock worth $7,836,000 after buying an additional 39,417 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

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.