Castle Biosciences (NASDAQ:CSTL) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Castle Biosciences (NASDAQ:CSTL – Free Report) from a hold rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

Several other equities analysts have also recently commented on the company. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research note on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Castle Biosciences in a research note on Thursday, October 29th. BTIG Research lifted their price target on shares of Castle Biosciences from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Mizuho started coverage on shares of Castle Biosciences in a report on Thursday, October 29th. They issued an “outperform” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Check Out Our Latest Stock Analysis on Castle Biosciences

Castle Biosciences Price Performance

CSTL stock opened at $35.14 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. Castle Biosciences has a 52-week low of $17.72 and a 52-week high of $44.28. The stock’s 50 day moving average is $34.27 and its two-hundred day moving average is $28.63.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 8,580 shares of the stock in a transaction on Monday, October 19th. The shares were sold at an average price of $31.91, for a total transaction of $273,787.80. Following the sale, the insider directly owned 12,484 shares of the company’s stock, valued at approximately $398,364.44. This represents a 40.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tobin Juvenal sold 6,578 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $36.42, for a total transaction of $239,570.76. Following the sale, the insider directly owned 38,853 shares in the company, valued at $1,415,026.26. This trade represents a 14.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 126,184 shares of company stock worth $4,324,506 over the last 90 days. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Castle Biosciences during the 2nd quarter valued at approximately $78,513,000. Jefferies Financial Group Inc. bought a new position in Castle Biosciences during the 2nd quarter worth $15,440,000. AIGH Capital Management LLC bought a new position in Castle Biosciences during the 2nd quarter worth $13,001,000. Renaissance Technologies LLC increased its position in Castle Biosciences by 8.1% in the first quarter. Renaissance Technologies LLC now owns 532,800 shares of the company’s stock worth $13,080,000 after buying an additional 39,700 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Castle Biosciences in the second quarter worth $7,912,000. Institutional investors own 92.60% of the company’s stock.

About Castle Biosciences

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Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.

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