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

Castle Biosciences, Inc. (NASDAQ:CSTL) has earned an average recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $38.75.

Several equities analysts recently issued reports on the company. Robert W. Baird lifted 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 reissued an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd.

Castle Biosciences Stock Down 3.7 %

Shares of NASDAQ CSTL opened at $19.31 on Friday. The firm has a 50-day moving average price of $20.54 and a 200 day moving average price of $26.29. Castle Biosciences has a 52 week low of $16.97 and a 52 week high of $35.84. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $557.00 million, a price-to-earnings ratio of 96.55 and a beta of 1.11.

Insiders Place Their Bets

In related news, insider Derek J. Maetzold sold 22,639 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $20.12, for a total value of $455,496.68. Following the completion of the sale, the insider now directly owns 80,465 shares in the company, valued at approximately $1,618,955.80. The trade was a 21.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The disclosure for this sale can be found here. Insiders have sold a total of 35,321 shares of company stock valued at $774,644 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Castle Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Castle Biosciences by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company’s stock valued at $48,837,000 after acquiring an additional 83,783 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Castle Biosciences by 2.7% in the 3rd 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. Dimensional Fund Advisors LP grew its holdings in shares of Castle Biosciences by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company’s stock worth $26,636,000 after purchasing an additional 134,645 shares during the period. Wellington Management Group LLP acquired a new stake in Castle Biosciences during the 4th quarter worth approximately $19,244,000. Finally, Renaissance Technologies LLC raised its holdings in Castle Biosciences by 39.9% in the fourth quarter. Renaissance Technologies LLC now owns 685,000 shares of the company’s stock valued at $18,255,000 after buying an additional 195,438 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.