Robert W. Baird Increases Castle Biosciences (NASDAQ:CSTL) Price Target to $37.00

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

Several other equities analysts have also recently commented on CSTL. Lake Street Capital boosted 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. KeyCorp increased their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank upped their target price on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Castle Biosciences in a report on Thursday, January 2nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $40.00.

Castle Biosciences Stock Down 14.2 %

CSTL stock opened at $21.68 on Friday. The stock has a 50-day simple moving average of $27.23 and a two-hundred day simple moving average of $29.16. Castle Biosciences has a twelve month low of $16.97 and a twelve month high of $35.84. The firm has a market capitalization of $607.19 million, a PE ratio of 108.41 and a beta of 0.91. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total transaction of $221,613.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Derek J. Maetzold sold 9,364 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $28.34, for a total transaction of $265,375.76. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold 30,771 shares of company stock worth $886,112 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd purchased a new stake in Castle Biosciences during the fourth quarter valued at about $25,000. R Squared Ltd purchased a new stake in Castle Biosciences during the 4th quarter valued at about $42,000. Quest Partners LLC grew its position in Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after acquiring an additional 1,522 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Castle Biosciences in the 4th quarter worth approximately $128,000. Finally, US Bancorp DE lifted its position in Castle Biosciences by 1,889.2% in the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after purchasing an additional 4,383 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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.