Castle Biosciences (NASDAQ:CSTL) Upgraded at Roth Mkm

Castle Biosciences (NASDAQ:CSTL) was upgraded by analysts at Roth Mkm to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on CSTL. KeyCorp set a $35.00 target price on shares of Castle Biosciences in a research report on Friday, May 29th. Weiss Ratings lowered shares of Castle Biosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Zacks Research cut shares of Castle Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. BTIG Research decreased their target price on shares of Castle Biosciences from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Morgan Stanley raised shares of Castle Biosciences to a “buy” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.43.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $22.91 on Wednesday. The company has a market capitalization of $694.86 million, a price-to-earnings ratio of -52.07 and a beta of 1.04. The company has a current ratio of 6.75, a quick ratio of 6.53 and a debt-to-equity ratio of 0.02. Castle Biosciences has a 12 month low of $14.59 and a 12 month high of $44.28. The stock’s 50 day moving average is $21.61 and its 200-day moving average is $29.16.

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 the consensus estimate of ($0.49). Castle Biosciences had a negative return on equity of 2.77% and a negative net margin of 3.78%.The business had revenue of $84.23 million during the quarter, compared to analysts’ expectations of $79.23 million. Equities research analysts expect that Castle Biosciences will post -1.4 EPS for the current year.

Insiders Place Their Bets

In related news, insider Derek J. Maetzold sold 6,214 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $22.15, for a total value of $137,640.10. Following the completion of the transaction, the insider owned 21,479 shares of the company’s stock, valued at $475,759.85. The trade was a 22.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $20.71, for a total transaction of $177,836.77. Following the sale, the chief operating officer directly owned 30,460 shares of the company’s stock, valued at $630,826.60. This represents a 21.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,775 shares of company stock worth $916,887 in the last 90 days. 6.10% of the stock is owned by company insiders.

Institutional Trading of Castle Biosciences

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