Castle Biosciences, Inc. (NASDAQ:CSTL) Receives Average Rating of “Buy” from Brokerages

Castle Biosciences, Inc. (NASDAQ:CSTL) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.00.

CSTL has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Robert W. Baird raised their price objective on Castle Biosciences from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th.

Castle Biosciences Stock Up 3.8 %

CSTL stock opened at $20.03 on Thursday. The business’s 50-day moving average is $25.61 and its two-hundred day moving average is $28.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. Castle Biosciences has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The company has a market cap of $560.98 million, a price-to-earnings ratio of 100.16 and a beta of 0.98.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 2,130 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $19.52, for a total transaction of $41,577.60. Following the completion of the sale, the insider now owns 78,335 shares in the company, valued at approximately $1,529,099.20. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $221,613.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,204 shares of company stock worth $1,055,988. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Castle Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Castle Biosciences by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company’s stock valued at $48,837,000 after buying an additional 83,783 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock valued at $43,879,000 after buying an additional 40,377 shares in the last quarter. Bellevue Group AG grew its holdings in Castle Biosciences by 3.7% during the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock valued at $35,993,000 after buying an additional 44,929 shares in the last quarter. Portolan Capital Management LLC boosted its holdings in shares of Castle Biosciences by 3.7% in the 3rd quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock worth $35,811,000 after purchasing an additional 44,676 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Castle Biosciences by 15.6% in 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. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.