Robert W. Baird Raises Castle Biosciences (NASDAQ:CSTL) Price Target to $37.00

Castle Biosciences (NASDAQ:CSTL) had its price target hoisted by Robert W. Baird from $36.00 to $37.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 70.66% from the stock’s current price.

A number of other research firms have also recently commented on CSTL. Stephens reissued an “overweight” rating and issued a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd. Scotiabank increased their target price on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Lake Street Capital increased their target price on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, KeyCorp increased their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences currently has an average rating of “Buy” and a consensus target price of $40.00.

Castle Biosciences Stock Down 14.2 %

CSTL stock opened at $21.68 on Friday. The stock has a market capitalization of $607.19 million, a P/E ratio of 108.41 and a beta of 0.91. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12 month low of $16.97 and a 12 month high of $35.84. The firm has a 50-day moving average price of $27.23 and a 200-day moving average price of $29.17.

Insider Activity

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 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Derek J. Maetzold sold 9,364 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 84,762 shares of the company’s stock, valued at $2,402,155.08. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,771 shares of company stock valued at $886,112 over the last quarter. 7.20% of the stock is owned by company insiders.

Institutional Trading of Castle Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSTL. Covestor Ltd acquired a new stake in Castle Biosciences during the 4th quarter valued at approximately $25,000. R Squared Ltd acquired a new stake in Castle Biosciences during the 4th quarter valued at approximately $42,000. Quest Partners LLC increased its position in Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after purchasing an additional 1,522 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Castle Biosciences during the 4th quarter valued at approximately $128,000. Finally, US Bancorp DE increased its position in Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after purchasing an additional 4,383 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.