Analysts Set Castle Biosciences, Inc. (NASDAQ:CSTL) Price Target at $40.00

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have earned an average recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $40.00.

Several equities analysts recently issued reports on CSTL shares. Robert W. Baird lifted their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd.

Insider Transactions at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 22,639 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $20.12, for a total transaction of $455,496.68. Following the sale, the insider now directly owns 80,465 shares in the company, valued at approximately $1,618,955.80. This represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,204 shares of company stock valued at $1,055,988 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in Castle Biosciences in the 4th quarter worth $19,244,000. Point72 Asset Management L.P. lifted its holdings in shares of Castle Biosciences by 828.3% during the third quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after purchasing an additional 445,415 shares during the period. Millennium Management LLC boosted its position in Castle Biosciences by 290.5% in the fourth quarter. Millennium Management LLC now owns 548,809 shares of the company’s stock valued at $14,626,000 after buying an additional 408,272 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Castle Biosciences in the 4th quarter worth approximately $6,639,000. Finally, Captrust Financial Advisors raised its position in Castle Biosciences by 2,567.5% during the 4th quarter. Captrust Financial Advisors now owns 215,322 shares of the company’s stock worth $5,738,000 after buying an additional 207,250 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Up 0.2 %

Shares of Castle Biosciences stock opened at $20.54 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The stock has a market cap of $575.26 million, a price-to-earnings ratio of 102.71 and a beta of 0.98. The firm’s 50-day moving average is $25.14 and its two-hundred day moving average is $28.44. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84.

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.