Castle Biosciences (NASDAQ:CSTL) Upgraded to Strong-Buy at Roth Mkm

Roth Mkm upgraded shares of Castle Biosciences (NASDAQ:CSTL) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Research cut shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Canaccord Genuity Group reduced their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Robert W. Baird decreased their price target on shares of Castle Biosciences from $44.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Morgan Stanley upgraded shares of Castle Biosciences to a “buy” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings lowered Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

Castle Biosciences Price Performance

NASDAQ:CSTL opened at $22.91 on Wednesday. Castle Biosciences has a 52 week low of $14.59 and a 52 week high of $44.28. The stock’s fifty day moving average is $21.61 and its two-hundred day moving average is $29.16. The company has a market capitalization of $694.86 million, a P/E ratio of -52.07 and a beta of 1.04. The company has a quick ratio of 6.53, a current ratio of 6.75 and a debt-to-equity ratio of 0.02.

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

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 3,622 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $20.66, for a total transaction of $74,830.52. Following the transaction, the insider directly owned 12,646 shares in the company, valued at approximately $261,266.36. This trade represents a 22.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 8,587 shares of Castle Biosciences stock in a transaction on Tuesday, June 16th. The shares were 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 in the company, valued at $630,826.60. The trade was a 21.99% 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. In the last quarter, insiders sold 40,775 shares of company stock valued at $916,887. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in shares of Castle Biosciences in the 4th quarter valued at approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Castle Biosciences during the fourth quarter worth approximately $35,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Castle Biosciences by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after purchasing an additional 297 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Castle Biosciences by 140.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,750 shares of the company’s stock worth $68,000 after purchasing an additional 1,022 shares during the period. Finally, CWM LLC lifted its holdings in shares of Castle Biosciences by 20.5% during the fourth quarter. CWM LLC now owns 2,302 shares of the company’s stock worth $90,000 after purchasing an additional 391 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Company Profile

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.