Castle Biosciences (NASDAQ:CSTL) Upgraded to “Strong-Buy” at Zacks Research

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

Other analysts also recently issued reports about the company. Guggenheim boosted their target price on Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. BTIG Research lifted their price target on Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. KeyCorp reiterated an “overweight” rating and issued a $50.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 29th. Canaccord Genuity Group increased their price objective on shares of Castle Biosciences from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Lake Street Capital lifted their target price on shares of Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.14.

Castle Biosciences Trading Down 1.3%

Shares of CSTL opened at $38.94 on Monday. The company has a current ratio of 6.47, a quick ratio of 6.31 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average is $39.76 and its two-hundred day moving average is $29.46. Castle Biosciences has a twelve month low of $14.59 and a twelve month high of $44.28. The firm has a market capitalization of $1.14 billion, a P/E ratio of -86.53 and a beta of 1.06.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.32. The company had revenue of $80.55 million during the quarter, compared to the consensus estimate of $71.06 million. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.73%. On average, research analysts predict that Castle Biosciences will post 0.44 earnings per share for the current fiscal year.

Insider Activity at Castle Biosciences

In other news, COO Kristen M. Oelschlager sold 14,888 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $39.31, for a total value of $585,247.28. Following the completion of the transaction, the chief operating officer owned 12,323 shares of the company’s stock, valued at $484,417.13. The trade was a 54.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tobin W. Juvenal sold 4,693 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $35.58, for a total transaction of $166,976.94. Following the transaction, the insider directly owned 84,595 shares in the company, valued at $3,009,890.10. The trade was a 5.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 35,408 shares of company stock valued at $1,380,970. 7.20% of the stock is owned by insiders.

Institutional Trading of Castle Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of CSTL. AIGH Capital Management LLC acquired a new stake in shares of Castle Biosciences in the third quarter worth approximately $16,105,000. Schroder Investment Management Group raised its stake in Castle Biosciences by 8.6% during the second quarter. Schroder Investment Management Group now owns 648,572 shares of the company’s stock worth $13,198,000 after purchasing an additional 51,483 shares during the period. Advisors Capital Management LLC boosted its holdings in shares of Castle Biosciences by 21.9% in the 2nd quarter. Advisors Capital Management LLC now owns 245,867 shares of the company’s stock valued at $5,021,000 after purchasing an additional 44,180 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Castle Biosciences during the 3rd quarter valued at $615,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Castle Biosciences by 29.1% during the 2nd quarter. Squarepoint Ops LLC now owns 125,719 shares of the company’s stock worth $2,567,000 after buying an additional 28,359 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

About Castle Biosciences

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.