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

Castle Biosciences, Inc. (NASDAQ:CSTL) has earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $40.29.

Several analysts have commented on CSTL shares. Robert W. Baird lifted their price objective on shares of Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. KeyCorp lifted their price objective on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Scotiabank lifted their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Lake Street Capital lifted their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th.

Castle Biosciences Stock Down 1.5 %

NASDAQ:CSTL opened at $25.75 on Friday. The company has a market cap of $721.26 million, a PE ratio of 128.76 and a beta of 0.91. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $27.53 and its two-hundred day moving average is $29.26.

Insider Activity at Castle Biosciences

In related news, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total value of $221,613.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek J. Maetzold sold 1,972 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $31.35, for a total transaction of $61,822.20. Following the completion of the transaction, the insider now owns 85,748 shares of the company’s stock, valued at approximately $2,688,199.80. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,771 shares of company stock worth $886,112 in the last three months. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised 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 worth $48,837,000 after acquiring an additional 83,783 shares during the period. Principal Financial Group Inc. raised its position in Castle Biosciences by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after acquiring an additional 40,377 shares during the period. Bellevue Group AG raised its position in Castle Biosciences by 3.7% during the third quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after acquiring an additional 44,929 shares during the period. Portolan Capital Management LLC raised its position in Castle Biosciences by 3.7% during the third quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock worth $35,811,000 after acquiring an additional 44,676 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Castle Biosciences by 15.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company’s stock worth $26,636,000 after acquiring an additional 134,645 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.