Castle Biosciences (NASDAQ:CSTL) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Castle Biosciences (NASDAQ:CSTL) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Several other analysts have also recently weighed in on CSTL. Guggenheim lifted their price target on Castle Biosciences from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Canaccord Genuity Group lifted their target price on Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 29th. KeyCorp reaffirmed an “overweight” rating and set a $50.00 price target on shares of Castle Biosciences in a research report on Thursday, January 29th. Finally, Lake Street Capital lifted their price objective on shares of Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.57.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $27.57 on Monday. The firm has a 50-day moving average of $36.65 and a 200-day moving average of $31.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.11 and a current ratio of 5.26. The stock has a market cap of $819.66 million, a PE ratio of -32.44 and a beta of 1.09. Castle Biosciences has a 52-week low of $14.59 and a 52-week high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.15. The business had revenue of $81.88 million for the quarter, compared to analyst estimates of $81.19 million. Castle Biosciences had a negative net margin of 7.02% and a negative return on equity of 0.89%. On average, sell-side analysts anticipate that Castle Biosciences will post 0.44 EPS for the current year.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 4,017 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $40.01, for a total value of $160,720.17. Following the completion of the transaction, the insider directly owned 87,715 shares in the company, valued at approximately $3,509,477.15. The trade was a 4.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kristen M. Oelschlager sold 14,888 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $39.31, for a total transaction of $585,247.28. Following the sale, the chief operating officer owned 12,323 shares in the company, valued at $484,417.13. This represents a 54.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,617 shares of company stock valued at $1,167,887. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in shares of Castle Biosciences in the 4th quarter valued at $26,000. Farther Finance Advisors LLC lifted its position in shares of Castle Biosciences by 139,100.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock worth $32,000 after buying an additional 1,391 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Castle Biosciences in the third quarter valued at about $35,000. Kemnay Advisory Services Inc. acquired a new stake in Castle Biosciences in the fourth quarter valued at about $35,000. Finally, CWM LLC grew its position in Castle Biosciences by 80.6% in the third quarter. CWM LLC now owns 1,911 shares of the company’s stock valued at $44,000 after acquiring an additional 853 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.