Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) PT at $38.75

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $38.75.

A number of equities analysts have issued reports on CSTL shares. Robert W. Baird raised 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. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a “buy” rating in a report on Friday, March 28th. Finally, Stephens reiterated an “overweight” rating and issued a $41.00 target price on shares of Castle Biosciences in a report on Thursday, January 2nd.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total transaction of $25,090.80. Following the completion of the transaction, the insider now owns 77,099 shares in the company, valued at approximately $1,565,109.70. This represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The disclosure for this sale can be found here. Insiders sold 34,085 shares of company stock worth $748,045 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its stake in 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 buying an additional 604 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Castle Biosciences by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company’s stock worth $394,000 after purchasing an additional 608 shares during the last quarter. Invesco Ltd. raised its stake in shares of Castle Biosciences by 2.3% during the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company’s stock worth $734,000 after purchasing an additional 616 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Castle Biosciences by 3.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 24,206 shares of the company’s stock valued at $690,000 after acquiring an additional 845 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Castle Biosciences by 4.6% in the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock valued at $568,000 after purchasing an additional 928 shares during the period. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

CSTL stock opened at $19.70 on Monday. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The business’s fifty day moving average is $22.34 and its 200-day moving average is $27.09. The company has a market cap of $568.13 million, a P/E ratio of 98.50 and a beta of 1.11.

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.