Castle Biosciences (NASDAQ:CSTL) Upgraded at Zacks Research

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

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a research report on Monday, December 29th. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $37.00 to $50.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Lake Street Capital lifted their price target on Castle Biosciences from $35.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, January 12th. KeyCorp restated an “overweight” rating and issued a $50.00 price target on shares of Castle Biosciences in a research note on Thursday, January 29th. Finally, Robert W. Baird boosted their price objective on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.14.

Castle Biosciences Price Performance

NASDAQ CSTL opened at $34.96 on Monday. The firm’s 50-day simple moving average is $39.67 and its two-hundred day simple moving average is $29.50. The company has a quick ratio of 6.31, a current ratio of 6.47 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $44.28. The company has a market cap of $1.02 billion, a PE ratio of -77.69 and a beta of 1.06.

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

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 14,888 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $39.31, for a total transaction of $585,247.28. Following the completion of the sale, the chief operating officer directly owned 12,323 shares of the company’s stock, valued at $484,417.13. This trade represents a 54.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tobin W. Juvenal sold 4,693 shares of Castle Biosciences stock in a transaction 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 completion of the sale, the insider owned 84,595 shares in the company, valued at approximately $3,009,890.10. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 35,408 shares of company stock valued at $1,380,970 over the last three months. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Castle Biosciences

Several large investors have recently bought and sold shares of CSTL. Principal Financial Group Inc. lifted its holdings in shares of Castle Biosciences by 0.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,807,644 shares of the company’s stock valued at $70,317,000 after acquiring an additional 13,289 shares during the last quarter. Truist Financial Corp raised its stake in shares of Castle Biosciences by 1.1% during the fourth quarter. Truist Financial Corp now owns 23,628 shares of the company’s stock valued at $919,000 after acquiring an additional 257 shares in the last quarter. Strs Ohio grew its position in shares of Castle Biosciences by 28.6% during the 4th quarter. Strs Ohio now owns 12,600 shares of the company’s stock worth $490,000 after buying an additional 2,800 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in Castle Biosciences during the 4th quarter valued at about $229,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Castle Biosciences during the fourth quarter worth $236,000. Institutional investors own 92.60% of the company’s stock.

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.