Castle Biosciences (NASDAQ:CSTL) Given New $37.00 Price Target at Robert W. Baird

Castle Biosciences (NASDAQ:CSTL) had its price target increased by investment analysts at Robert W. Baird from $36.00 to $37.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 46.71% from the stock’s current price.

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

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $25.22 on Friday. The business has a 50 day moving average price of $27.35 and a 200 day moving average price of $29.19. The company has a market capitalization of $706.34 million, a P/E ratio of 126.11 and a beta of 0.91. Castle Biosciences has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64.

Insiders Place Their Bets

In related news, insider Derek J. Maetzold sold 9,364 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total transaction of $265,375.76. Following the transaction, the insider now owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The disclosure for this sale can be found here. Insiders have sold 30,771 shares of company stock valued at $886,112 in the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp acquired a new stake in Castle Biosciences in the 4th quarter worth about $560,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Castle Biosciences by 18.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,018 shares of the company’s stock worth $1,759,000 after acquiring an additional 10,486 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Castle Biosciences in the fourth quarter worth approximately $306,000. Point72 Asset Management L.P. boosted its position in shares of Castle Biosciences by 9.6% in the fourth quarter. Point72 Asset Management L.P. now owns 547,104 shares of the company’s stock worth $14,580,000 after acquiring an additional 47,912 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in Castle Biosciences in the fourth quarter valued at approximately $230,000. 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.