Castle Biosciences (NASDAQ:CSTL) Stock Rating Upgraded by Zacks Research

Castle Biosciences (NASDAQ:CSTL) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

CSTL has been the subject of a number of other reports. Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Castle Biosciences in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Castle Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Castle Biosciences Stock Up 1.7%

NASDAQ CSTL opened at $23.40 on Monday. The stock has a fifty day moving average of $22.46 and a 200-day moving average of $19.81. The stock has a market capitalization of $678.83 million, a P/E ratio of -66.86 and a beta of 1.13. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.69 and a current ratio of 6.85.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.66. The company had revenue of $86.18 million during the quarter, compared to analysts’ expectations of $71.53 million. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%. Castle Biosciences has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Castle Biosciences will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,339 shares of Castle Biosciences stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $21.97, for a total transaction of $29,417.83. Following the transaction, the insider directly owned 65,666 shares in the company, valued at approximately $1,442,682.02. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in Castle Biosciences by 139,100.0% during the third quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after acquiring an additional 1,391 shares in the last quarter. CWM LLC lifted its holdings in Castle Biosciences by 80.6% during the third quarter. CWM LLC now owns 1,911 shares of the company’s stock worth $44,000 after acquiring an additional 853 shares in the last quarter. Harbour Investments Inc. bought a new position in Castle Biosciences during the first quarter worth about $50,000. Jones Financial Companies Lllp lifted its holdings in Castle Biosciences by 10,592.0% during the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after acquiring an additional 2,648 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Castle Biosciences by 256.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,791 shares of the company’s stock worth $57,000 after acquiring an additional 2,009 shares in the last quarter. 92.60% of the stock is currently owned by 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.