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

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $40.00.

Several equities research analysts have weighed in on the company. Robert W. Baird upped their price target on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Stephens restated an “overweight” rating and set a $41.00 price target on shares of Castle Biosciences in a report on Thursday, January 2nd.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,130 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the transaction, the insider now owns 78,335 shares in the company, valued at $1,529,099.20. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $29.14, for a total transaction of $229,244.38. Following the completion of the transaction, the director now owns 1,425 shares of the company’s stock, valued at $41,524.50. This represents a 84.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,568 shares of company stock valued at $1,321,364 in the last ninety days. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Several large investors have recently bought and sold shares of CSTL. Covestor Ltd purchased a new position in Castle Biosciences during the 4th quarter worth $25,000. R Squared Ltd purchased a new position in Castle Biosciences during the 4th quarter worth $42,000. Quest Partners LLC grew 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 worth $123,000 after purchasing an additional 1,522 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Castle Biosciences during the 4th quarter worth $128,000. Finally, US Bancorp DE grew 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 worth $132,000 after purchasing an additional 4,383 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $19.29 on Thursday. The stock’s 50-day moving average is $25.80 and its two-hundred day moving average is $28.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a market cap of $540.26 million, a price-to-earnings ratio of 96.45 and a beta of 0.98.

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.