Castle Biosciences (NASDAQ:CSTL) Upgraded at Zacks Research

Zacks Research upgraded shares of Castle Biosciences (NASDAQ:CSTL) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other brokerages also recently issued reports on CSTL. Wall Street Zen raised shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Scotiabank lowered their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 21st. Canaccord Genuity Group lowered their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Lake Street Capital lowered their price objective on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Castle Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Castle Biosciences Stock Up 2.3%

CSTL opened at $24.01 on Wednesday. The firm has a 50 day moving average price of $19.09 and a 200 day moving average price of $19.61. The company has a market cap of $696.53 million, a PE ratio of -68.60 and a beta of 1.09. Castle Biosciences has a 1 year low of $14.59 and a 1 year 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 posted its earnings results on Monday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.66. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The firm had revenue of $86.18 million during the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Sell-side analysts expect that Castle Biosciences will post 0.44 earnings per share for the current year.

Institutional Trading of Castle Biosciences

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Castle Biosciences by 2,070.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 217,794 shares of the company’s stock worth $4,360,000 after buying an additional 207,761 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Castle Biosciences during the fourth quarter worth approximately $230,000. Deutsche Bank AG grew its position in shares of Castle Biosciences by 12.5% during the fourth quarter. Deutsche Bank AG now owns 67,667 shares of the company’s stock worth $1,803,000 after buying an additional 7,495 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in Castle Biosciences during the fourth quarter worth $2,414,000. Finally, Man Group plc bought a new position in Castle Biosciences during the fourth quarter worth $354,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

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.