Castle Biosciences (NASDAQ:CSTL - Get Free Report) had its target price increased by analysts at Robert W. Baird from $36.00 to $37.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price target suggests a potential upside of 66.44% from the company's previous close.
Several other equities research analysts have also recently issued reports on the company. Stephens reiterated an "overweight" rating and issued a $41.00 price target on shares of Castle Biosciences in a research note on Thursday, January 2nd. KeyCorp upped their target price on Castle Biosciences from $28.00 to $36.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Lake Street Capital increased their target price on Castle Biosciences from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Scotiabank lifted their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a "sector outperform" rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences has a consensus rating of "Buy" and an average target price of $40.00.
Check Out Our Latest Analysis on Castle Biosciences
Castle Biosciences Stock Performance
Castle Biosciences stock traded up $0.96 during midday trading on Friday, hitting $22.23. The company's stock had a trading volume of 689,427 shares, compared to its average volume of 465,639. 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 cap of $622.60 million, a price-to-earnings ratio of 111.16 and a beta of 0.91. Castle Biosciences has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a 50-day moving average price of $27.11 and a two-hundred day moving average price of $29.14.
Insider Buying and Selling at Castle Biosciences
In other news, Director Daniel Bradbury sold 7,867 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 SEC, which is accessible through this link. Also, insider Derek J. Maetzold sold 986 shares of the company's 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 of the company's stock, valued at $2,265,328.54. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,771 shares of company stock worth $886,112. Insiders own 7.20% of the company's stock.
Institutional Trading of Castle Biosciences
Institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Castle Biosciences by 147.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company's stock worth $4,719,000 after purchasing an additional 98,571 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Castle Biosciences by 11.0% in the third quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company's stock valued at $4,389,000 after acquiring an additional 15,200 shares in the last quarter. Barclays PLC grew its holdings in shares of Castle Biosciences by 310.7% in the third quarter. Barclays PLC now owns 52,301 shares of the company's stock valued at $1,491,000 after acquiring an additional 39,567 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Castle Biosciences by 165.2% during the third quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company's stock valued at $1,980,000 after acquiring an additional 43,241 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Castle Biosciences during the third quarter worth $1,478,000. Hedge funds and other institutional investors own 92.60% of the company's stock.
Castle Biosciences Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Castle Biosciences, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Castle Biosciences wasn't on the list.
While Castle Biosciences currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
