Brokerages Set Castle Biosciences, Inc. (NASDAQ:CSTL) PT at $38.75

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given a consensus rating of “Buy” by the eight brokerages that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $38.75.

CSTL has been the topic of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Castle Biosciences in a report on Thursday, January 2nd. Robert W. Baird boosted their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the stock a “buy” rating in a research report on Friday, March 28th.

Castle Biosciences Stock Performance

Shares of CSTL opened at $19.70 on Monday. The firm has a market cap of $568.13 million, a price-to-earnings ratio of 98.50 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. The business’s 50 day moving average is $22.34 and its two-hundred day moving average is $27.10. Castle Biosciences has a 52-week low of $16.97 and a 52-week high of $35.84.

Insiders Place Their Bets

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 stock was sold at an average price of $28.17, for a total value of $221,613.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $28.03, for a total value of $27,637.58. Following the transaction, the insider now owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,071 shares of company stock valued at $775,682. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings 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 worth $7,836,000 after acquiring an additional 39,417 shares during the period. Janus Henderson Group PLC bought a new position in Castle Biosciences in the 3rd quarter worth about $261,000. Point72 DIFC Ltd acquired a new stake in shares of Castle Biosciences in the third quarter valued at approximately $140,000. State Street Corp increased its stake in shares of Castle Biosciences by 9.8% in the third quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after purchasing an additional 60,924 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Castle Biosciences by 16.6% during the third quarter. Orion Portfolio Solutions LLC now owns 72,405 shares of the company’s stock valued at $2,065,000 after buying an additional 10,324 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

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.