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

Castle Biosciences (NASDAQ:CSTL) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

CSTL has been the subject of several other research reports. Lake Street Capital raised their price objective on shares of Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. BTIG Research increased their target price on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a research note on Monday. KeyCorp reiterated an “overweight” rating and set a $50.00 price objective on shares of Castle Biosciences in a report on Thursday, January 29th. Finally, Canaccord Genuity Group raised their target price on Castle Biosciences from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.57.

Castle Biosciences Stock Performance

CSTL stock opened at $27.57 on Monday. The firm has a market cap of $819.66 million, a PE ratio of -32.44 and a beta of 1.09. The company has a current ratio of 5.26, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $36.65 and a 200-day moving average price of $31.41. Castle Biosciences has a 1-year low of $14.59 and a 1-year high of $44.28.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.15. The company had revenue of $81.88 million for the quarter, compared to analyst estimates of $81.19 million. Castle Biosciences had a negative return on equity of 0.89% and a negative net margin of 7.02%. As a group, equities research analysts expect that Castle Biosciences will post 0.44 earnings per share for the current year.

Insider Transactions at Castle Biosciences

In other news, COO Kristen M. Oelschlager sold 14,888 shares of the business’s stock in a transaction dated 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. The trade was a 54.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Derek J. Maetzold sold 4,017 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $40.01, for a total transaction of $160,720.17. Following the completion of the sale, the insider owned 87,715 shares in the company, valued at $3,509,477.15. This represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,617 shares of company stock valued at $1,167,887 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in Castle Biosciences during the fourth quarter worth $26,000. Farther Finance Advisors LLC lifted its stake in Castle Biosciences by 139,100.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,392 shares of the company’s stock valued at $32,000 after acquiring an additional 1,391 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Castle Biosciences during the 3rd quarter worth $35,000. Kemnay Advisory Services Inc. bought a new stake in shares of Castle Biosciences in the 4th quarter worth $35,000. Finally, CWM LLC raised its holdings in shares of 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 purchasing an additional 853 shares during the last quarter. 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.