Castle Biosciences (NASDAQ:CSTL) Stock Rating Upgraded by Roth Mkm

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

Several other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Castle Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Canaccord Genuity Group dropped their target price on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 20th. BTIG Research cut their price target on Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Robert W. Baird reduced their price target on Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.43.

Castle Biosciences Trading Up 3.6%

CSTL opened at $22.91 on Wednesday. The company has a market cap of $694.86 million, a P/E ratio of -52.07 and a beta of 1.04. The company has a current ratio of 6.75, a quick ratio of 6.53 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $21.61 and its 200-day moving average is $29.16. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49). Castle Biosciences had a negative net margin of 3.78% and a negative return on equity of 2.77%. The business had revenue of $84.23 million during the quarter, compared to analysts’ expectations of $79.23 million. Equities research analysts predict that Castle Biosciences will post -1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Kristen M. Oelschlager sold 8,587 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the completion of the transaction, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at $630,826.60. This trade represents a 21.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 3,622 shares of Castle Biosciences stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $20.66, for a total value of $74,830.52. Following the transaction, the insider directly owned 12,646 shares in the company, valued at $261,266.36. The trade was a 22.26% 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. Insiders sold 40,775 shares of company stock valued at $916,887 over the last 90 days. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Castle Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new stake in Castle Biosciences during the 4th quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Castle Biosciences during the fourth quarter worth $35,000. Jones Financial Companies Lllp raised its stake 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 buying an additional 2,648 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Castle Biosciences by 26.5% in 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 during the period. Finally, Russell Investments Group Ltd. boosted its position in Castle Biosciences by 63.7% during the third quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock valued at $57,000 after acquiring an additional 976 shares during the last quarter. 92.60% of the stock is currently owned by 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.