Castle Biosciences, Inc. (NASDAQ:CSTL) Receives $40.00 Consensus Price Target from Analysts

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given a consensus rating of “Buy” by the seven research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.00.

A number of brokerages have recently commented on CSTL. Stephens reiterated 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 lifted their target price on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, February 28th.

Insider Buying and Selling

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction on Monday, January 6th. The stock was sold at an average price of $29.14, for a total transaction of $229,244.38. Following the completion of the sale, the director now directly owns 1,425 shares of the company’s stock, valued at $41,524.50. The trade was a 84.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.03, for a total value of $27,637.58. Following the sale, the insider now directly owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,204 shares of company stock valued at $1,055,988. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of CSTL. Wellington Management Group LLP purchased a new position in shares of Castle Biosciences in the 4th quarter valued at $19,244,000. Point72 Asset Management L.P. increased its holdings in shares of Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock valued at $14,237,000 after acquiring an additional 445,415 shares during the period. Millennium Management LLC increased its holdings in shares of Castle Biosciences by 290.5% in the 4th quarter. Millennium Management LLC now owns 548,809 shares of the company’s stock valued at $14,626,000 after acquiring an additional 408,272 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Castle Biosciences in the 4th quarter valued at $6,639,000. Finally, Captrust Financial Advisors increased its holdings in shares of Castle Biosciences by 2,567.5% in the 4th quarter. Captrust Financial Advisors now owns 215,322 shares of the company’s stock valued at $5,738,000 after acquiring an additional 207,250 shares during the period. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Price Performance

Shares of Castle Biosciences stock opened at $20.03 on Thursday. The stock has a market cap of $560.98 million, a price-to-earnings ratio of 100.16 and a beta of 0.98. 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 stock has a 50 day moving average price of $25.61 and a 200-day moving average price of $28.56. Castle Biosciences has a one year low of $16.97 and a one year 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.