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

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) has been given a consensus rating of "Buy" by the seven analysts that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $40.00.

CSTL has been the topic of several analyst reports. Stephens reaffirmed an "overweight" rating and issued a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Robert W. Baird boosted their price target on Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,130 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $19.52, for a total transaction of $41,577.60. Following the sale, the insider now directly owns 78,335 shares of the company's stock, valued at $1,529,099.20. The trade was a 2.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel Bradbury sold 7,867 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $29.14, for a total transaction of $229,244.38. Following the transaction, the director now owns 1,425 shares in the company, valued at $41,524.50. This represents a 84.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,568 shares of company stock worth $1,321,364 over the last 90 days. Insiders own 7.20% of the company's stock.

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Hedge Funds Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new stake in Castle Biosciences in the fourth quarter valued at approximately $19,244,000. Point72 Asset Management L.P. raised its stake in shares of 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 buying an additional 445,415 shares during the period. Millennium Management LLC boosted its holdings in Castle Biosciences by 290.5% in the 4th quarter. Millennium Management LLC now owns 548,809 shares of the company's stock worth $14,626,000 after buying an additional 408,272 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Castle Biosciences in the fourth quarter worth about $6,639,000. Finally, Captrust Financial Advisors boosted its stake in Castle Biosciences by 2,567.5% during the fourth quarter. Captrust Financial Advisors now owns 215,322 shares of the company's stock valued at $5,738,000 after buying an additional 207,250 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Trading Down 4.4 %

Shares of Castle Biosciences stock traded down $0.87 on Thursday, reaching $18.76. The company had a trading volume of 408,046 shares, compared to its average volume of 476,072. 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 firm has a market cap of $525.41 million, a PE ratio of 93.80 and a beta of 0.98. The firm's 50 day moving average price is $26.17 and its two-hundred day moving average price is $28.77. Castle Biosciences has a 52-week low of $16.97 and a 52-week high of $35.84.

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.