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

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $47.1429.

Several equities research analysts recently commented on the company. Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Canaccord Genuity Group increased their price objective on shares of Castle Biosciences from $37.00 to $50.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Lake Street Capital increased their price objective on shares of Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Robert W. Baird raised their target price on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, BTIG Research increased their target price on Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th.

Castle Biosciences Stock Up 3.0%

Shares of NASDAQ:CSTL opened at $30.83 on Thursday. The company has a current ratio of 6.47, a quick ratio of 6.31 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $37.52 and a two-hundred day simple moving average of $31.05. Castle Biosciences has a 12-month low of $14.59 and a 12-month high of $44.28. The stock has a market capitalization of $899.93 million, a price-to-earnings ratio of -68.51 and a beta of 1.06.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 4,017 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $40.01, for a total transaction of $160,720.17. Following the sale, the insider directly owned 87,715 shares of the company’s stock, valued at $3,509,477.15. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kristen M. Oelschlager sold 14,888 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $39.31, for a total transaction of $585,247.28. Following the sale, the chief operating officer owned 12,323 shares in the company, valued at approximately $484,417.13. This represents a 54.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,617 shares of company stock worth $1,167,887. 6.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Castle Biosciences by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,199,829 shares of the company’s stock worth $85,573,000 after purchasing an additional 27,511 shares during the last quarter. RTW Investments LP purchased a new position in shares of Castle Biosciences in the fourth quarter worth about $82,283,000. Principal Financial Group Inc. boosted its position in Castle Biosciences by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company’s stock worth $70,317,000 after acquiring an additional 13,289 shares during the last quarter. Portolan Capital Management LLC grew its stake in Castle Biosciences by 1.7% during the 3rd quarter. Portolan Capital Management LLC now owns 1,515,111 shares of the company’s stock valued at $34,499,000 after acquiring an additional 25,539 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Castle Biosciences by 7.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,474,089 shares of the company’s stock valued at $33,564,000 after acquiring an additional 96,084 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.