Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $38.75 Consensus PT from Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) have earned an average recommendation of "Buy" from the eight brokerages that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $38.75.

Several equities analysts have recently issued reports on the company. Guggenheim set a $30.00 target price on Castle Biosciences and gave the company a "buy" rating in a report on Friday, March 28th. Robert W. Baird boosted their price objective on Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Finally, Stephens reaffirmed an "overweight" rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd.

Insider Buying and Selling at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $28.03, for a total value of $27,637.58. Following the sale, the insider now owns 80,818 shares in the company, valued at approximately $2,265,328.54. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,071 shares of company stock worth $775,682 over the last ninety days. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd purchased a new position in Castle Biosciences during the 4th quarter valued at about $25,000. R Squared Ltd bought a new position in shares of Castle Biosciences in the fourth quarter valued at approximately $42,000. GAMMA Investing LLC boosted its position in shares of Castle Biosciences by 1,865.8% in the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $87,000 after acquiring an additional 4,142 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Castle Biosciences during the fourth quarter valued at approximately $128,000. Finally, Point72 DIFC Ltd bought a new stake in Castle Biosciences during the 3rd quarter worth approximately $140,000. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Stock Up 2.1 %

CSTL stock traded up $0.40 during trading on Monday, reaching $19.70. The stock had a trading volume of 209,020 shares, compared to its average volume of 376,779. 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 company has a market capitalization of $568.13 million, a price-to-earnings ratio of 98.50 and a beta of 1.11. Castle Biosciences has a one year low of $16.97 and a one year high of $35.84. The company's 50 day moving average is $22.34 and its two-hundred day moving average is $27.10.

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.