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

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) have received a consensus rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $40.29.

Several equities analysts have issued reports on the company. KeyCorp lifted their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank boosted their target price on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Lake Street Capital boosted their target price on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stephens restated an “overweight” rating and set a $41.00 target price on shares of Castle Biosciences in a research report on Thursday, January 2nd. Finally, Canaccord Genuity Group boosted their target price on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th.

Castle Biosciences Trading Down 1.1 %

Shares of CSTL opened at $27.32 on Friday. The stock has a fifty day moving average price of $27.83 and a two-hundred day moving average price of $29.10. 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 52-week low of $16.97 and a 52-week high of $35.84. The company has a market cap of $765.23 million, a price-to-earnings ratio of 136.61 and a beta of 0.91.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 9,364 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total value of $265,375.76. Following the completion of the transaction, the insider now directly owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.14, for a total value of $229,244.38. Following the completion of the transaction, the director now directly owns 1,425 shares of the company’s stock, valued at approximately $41,524.50. The trade was a 84.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,771 shares of company stock worth $886,112. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in Castle Biosciences by 147.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after acquiring an additional 98,571 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Castle Biosciences by 11.0% during the third quarter. Harbor Capital Advisors Inc. now owns 153,907 shares of the company’s stock worth $4,389,000 after buying an additional 15,200 shares during the period. Barclays PLC boosted its position in shares of Castle Biosciences by 310.7% during the third quarter. Barclays PLC now owns 52,301 shares of the company’s stock worth $1,491,000 after buying an additional 39,567 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Castle Biosciences by 165.2% during the third quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock worth $1,980,000 after buying an additional 43,241 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Castle Biosciences during the third quarter worth about $1,478,000. 92.60% of the stock is 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.