Castle Biosciences (NASDAQ:CSTL) Research Coverage Started at Mizuho

Mizuho started coverage on shares of Castle Biosciences (NASDAQ:CSTL) in a report published on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $60.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on CSTL. BTIG Research lifted their price target on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings raised Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Robert W. Baird set a $36.00 target price on Castle Biosciences in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded Castle Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Castle Biosciences Trading Down 3.5%

Shares of NASDAQ:CSTL opened at $37.16 on Thursday. The company has a market cap of $1.14 billion, a PE ratio of -56.30 and a beta of 0.94. The company’s 50-day moving average price is $34.22 and its 200 day moving average price is $28.68. Castle Biosciences has a fifty-two week low of $17.72 and a fifty-two week high of $44.28. The company has a quick ratio of 5.85, a current ratio of 6.04 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Thursday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The firm had revenue of $99.86 million during the quarter, compared to analyst estimates of $86.23 million. Sell-side analysts anticipate that Castle Biosciences will post -1.29 earnings per share for the current year.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, COO Kristen Oelschlager sold 12,384 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $34.42, for a total transaction of $426,257.28. Following the transaction, the chief operating officer owned 72,649 shares of the company’s stock, valued at approximately $2,500,578.58. This trade represents a 14.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tobin Juvenal sold 9,050 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $35.04, for a total transaction of $317,112.00. Following the sale, the insider owned 66,914 shares in the company, valued at $2,344,666.56. This trade represents a 11.91% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 194,009 shares of company stock valued at $6,402,497. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Assetmark Inc. raised its holdings in Castle Biosciences by 9.3% during the first quarter. Assetmark Inc. now owns 5,779 shares of the company’s stock worth $142,000 after purchasing an additional 492 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Castle Biosciences by 15.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,574 shares of the company’s stock worth $194,000 after purchasing an additional 747 shares during the period. NFSG Corp bought a new position in Castle Biosciences during the 3rd quarter valued at $36,000. Global Retirement Partners LLC bought a new position in Castle Biosciences during the 2nd quarter valued at $26,000. Finally, Summit Global Investments boosted its stake in Castle Biosciences by 10.9% during the 1st quarter. Summit Global Investments now owns 13,718 shares of the company’s stock valued at $337,000 after purchasing an additional 1,353 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company that develops and commercializes tests designed to help physicians diagnose cancer, assess disease risk and guide treatment decisions. The company focuses on conditions in which additional biological information can complement traditional pathology and clinical assessment.

Its portfolio includes DecisionDx-Melanoma, which helps evaluate the risk of metastatic recurrence in patients with cutaneous melanoma; DecisionDx-SCC, which assesses metastatic risk in cutaneous squamous cell carcinoma; and DecisionDx-UM, a test for determining metastatic risk in uveal melanoma.