Robert W. Baird Issues Positive Forecast for Castle Biosciences (NASDAQ:CSTL) Stock Price

Castle Biosciences (NASDAQ:CSTL) had its price objective increased by Robert W. Baird from $36.00 to $37.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

CSTL has been the subject of a number of other research reports. Lake Street Capital lifted their price target on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Scotiabank lifted their target price on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. KeyCorp increased their price target on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and set a $41.00 price objective on shares of Castle Biosciences in a research note on Thursday, January 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $40.00.

Castle Biosciences Stock Down 14.2 %

Shares of NASDAQ CSTL opened at $21.68 on Friday. 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 company has a 50-day moving average price of $27.23 and a 200-day moving average price of $29.16. The stock has a market capitalization of $607.19 million, a P/E ratio of 108.41 and a beta of 0.91. Castle Biosciences has a 1 year low of $16.97 and a 1 year high of $35.84.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $28.03, for a total transaction of $27,637.58. Following the completion of the transaction, the insider now directly owns 80,818 shares of the company’s stock, valued at $2,265,328.54. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $29.14, for a total transaction of $229,244.38. Following the sale, the director now owns 1,425 shares of the company’s stock, valued at approximately $41,524.50. The trade was a 84.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,771 shares of company stock valued at $886,112. 7.20% of the stock is owned by insiders.

Institutional Trading of Castle Biosciences

A number of large investors have recently bought and sold shares of the company. Algert Global LLC lifted its position in shares of Castle Biosciences by 0.4% during the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after buying an additional 599 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Castle Biosciences by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company’s stock valued at $158,000 after purchasing an additional 604 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Castle Biosciences by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company’s stock valued at $394,000 after purchasing an additional 608 shares during the last quarter. Invesco Ltd. boosted its position in Castle Biosciences by 2.3% during the fourth quarter. Invesco Ltd. now owns 27,534 shares of the company’s stock worth $734,000 after purchasing an additional 616 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

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.