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

Wall Street Zen upgraded shares of Castle Biosciences (NASDAQ:CSTL) from a sell rating to a hold rating in a research note released on Saturday morning.

Other analysts also recently issued reports about the company. KeyCorp set a $35.00 price target on Castle Biosciences in a report on Friday, May 29th. Canaccord Genuity Group dropped their price objective on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. BTIG Research cut their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings cut Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Finally, Robert W. Baird set a $36.00 target price on Castle Biosciences in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Castle Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Castle Biosciences Trading Up 8.5%

NASDAQ:CSTL opened at $30.39 on Friday. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $44.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.85 and a current ratio of 6.04. The firm’s fifty day moving average is $22.97 and its 200-day moving average is $26.37. The firm has a market cap of $921.73 million, a P/E ratio of -46.05 and a beta of 0.98.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.34. The business had revenue of $99.86 million during the quarter, compared to the consensus estimate of $86.23 million. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. Equities analysts expect that Castle Biosciences will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Castle Biosciences

In related news, COO Kristen M. Oelschlager sold 8,586 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.42, for a total value of $209,670.12. Following the completion of the sale, the chief operating officer directly owned 21,874 shares of the company’s stock, valued at $534,163.08. The trade was a 28.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 3,622 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $24.16, for a total value of $87,507.52. Following the transaction, the insider directly owned 11,812 shares in the company, valued at approximately $285,377.92. This trade represents a 23.47% 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. Over the last ninety days, insiders sold 55,025 shares of company stock valued at $1,252,199. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently modified their holdings of the company. Truist Financial Corp increased its stake in Castle Biosciences by 1.1% in the 4th quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock worth $919,000 after acquiring an additional 257 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Castle Biosciences by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock valued at $523,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Castle Biosciences by 26.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock valued at $55,000 after acquiring an additional 297 shares during the last quarter. CWM LLC boosted its position in shares of Castle Biosciences by 20.5% during the 4th quarter. CWM LLC now owns 2,302 shares of the company’s stock valued at $90,000 after acquiring an additional 391 shares during the last quarter. Finally, HRT Financial LP grew its holdings in shares of Castle Biosciences by 0.9% during the fourth quarter. HRT Financial LP now owns 47,654 shares of the company’s stock worth $1,853,000 after purchasing an additional 415 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Company Profile

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.