Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Rating of "Buy" by Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL - Get Free Report) has been assigned a consensus rating of "Buy" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $40.29.

Several research firms have recently commented on CSTL. Robert W. Baird boosted their price target on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. KeyCorp boosted their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Lake Street Capital boosted their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Stephens reiterated an "overweight" rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Finally, Scotiabank boosted their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total transaction of $221,613.39. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Derek J. Maetzold sold 9,364 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total transaction of $265,375.76. Following the completion of the sale, the insider now directly owns 84,762 shares in the company, valued at $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,771 shares of company stock valued at $886,112. Insiders own 7.20% of the company's stock.

Institutional Trading of Castle Biosciences

Several large investors have recently made changes to their positions in the business. Algert Global LLC boosted its holdings in shares of Castle Biosciences by 0.4% in the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company's stock valued at $3,831,000 after acquiring an additional 599 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Castle Biosciences by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company's stock valued at $158,000 after acquiring an additional 604 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Castle Biosciences by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock valued at $394,000 after acquiring an additional 608 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Castle Biosciences by 2.3% in the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company's stock valued at $734,000 after acquiring an additional 616 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Castle Biosciences by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company's stock worth $220,000 after buying an additional 675 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Up 1.8 %

Shares of NASDAQ:CSTL traded up $0.47 during trading hours on Friday, hitting $27.19. The company's stock had a trading volume of 331,732 shares, compared to its average volume of 450,901. 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 current ratio of 7.78 and a quick ratio of 7.64. The company has a market capitalization of $761.59 million, a price-to-earnings ratio of 135.96 and a beta of 0.91. The firm's fifty day moving average price is $27.70 and its 200 day moving average price is $29.24.

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.