Castle Biosciences (NASDAQ:CSTL) Raised to “Strong-Buy” at Roth Mkm

Castle Biosciences (NASDAQ:CSTL) was upgraded by research analysts at Roth Mkm to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on CSTL. Wall Street Zen cut shares of Castle Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. BTIG Research decreased their price objective on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings downgraded Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Finally, KeyCorp set a $35.00 target price on Castle Biosciences in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL opened at $22.91 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.75 and a quick ratio of 6.53. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28. The company has a market capitalization of $694.86 million, a price-to-earnings ratio of -52.07 and a beta of 1.04. The business has a 50-day moving average of $21.61 and a 200-day moving average of $29.16.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Wednesday, May 6th. The company reported ($0.49) EPS for the quarter, meeting the consensus estimate of ($0.49). The business had revenue of $84.23 million for the quarter, compared to the consensus estimate of $79.23 million. Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%. On average, equities analysts anticipate that Castle Biosciences will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Kristen M. Oelschlager sold 8,587 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $20.71, for a total value of $177,836.77. Following the completion of the sale, the chief operating officer owned 30,460 shares in the company, valued at approximately $630,826.60. This represents a 21.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $20.66, for a total transaction of $74,830.52. Following the completion of the transaction, the insider directly owned 12,646 shares of the company’s stock, valued at $261,266.36. This represents a 22.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,775 shares of company stock worth $916,887 in the last 90 days. 6.10% of the stock is owned by company insiders.

Institutional Trading of Castle Biosciences

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

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.