Castle Biosciences, Inc. (NASDAQ:CSTL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received a consensus rating of “Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $38.75.

A number of equities analysts recently issued reports on the company. Robert W. Baird increased their price objective 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 target on Castle Biosciences and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, Stephens restated an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd.

Castle Biosciences Trading Down 3.2 %

Castle Biosciences stock opened at $18.57 on Monday. The firm has a 50-day moving average price of $23.53 and a two-hundred day moving average price of $27.58. Castle Biosciences has a 52-week low of $16.97 and a 52-week high of $35.84. The firm has a market capitalization of $535.54 million, a price-to-earnings ratio of 92.85 and a beta of 1.11. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Insider Buying and Selling

In related news, Director Daniel Bradbury sold 7,867 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 1,236 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the completion of the transaction, the insider now directly owns 77,099 shares in the company, valued at $1,565,109.70. This represents a 1.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,858 shares of company stock valued at $771,416 over the last three months. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in Castle Biosciences by 310.7% during the third quarter. Barclays PLC now owns 52,301 shares of the company’s stock valued at $1,491,000 after buying an additional 39,567 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 period. Charles Schwab Investment Management Inc. lifted its position in shares of Castle Biosciences by 16.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 274,761 shares of the company’s stock valued at $7,836,000 after acquiring an additional 39,417 shares in the last quarter. Geode Capital Management LLC boosted its stake in Castle Biosciences by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 624,683 shares of the company’s stock worth $17,820,000 after purchasing an additional 7,004 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Castle Biosciences by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock valued at $43,879,000 after purchasing an additional 40,377 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.