Weiss Ratings Reiterates “Sell (D-)” Rating for Castle Biosciences (NASDAQ:CSTL)

Castle Biosciences (NASDAQ:CSTL)‘s stock had its “sell (d-)” rating reissued by stock analysts at Weiss Ratings in a research report issued to clients and investors on Thursday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on the company. Zacks Research upgraded Castle Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Canaccord Genuity Group restated a “buy” rating and set a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, September 9th. Finally, Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Castle Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $36.57.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $25.50 on Thursday. The business’s 50 day simple moving average is $23.14 and its 200 day simple moving average is $20.08. Castle Biosciences has a one year low of $14.59 and a one year high of $35.84. The stock has a market capitalization of $739.76 million, a PE ratio of -72.86 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.66. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%.The business had revenue of $86.18 million for the quarter, compared to analysts’ expectations of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Castle Biosciences will post 0.44 earnings per share for the current year.

Insider Activity

In related news, insider Derek J. Maetzold sold 1,339 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $22.44, for a total value of $30,047.16. Following the transaction, the insider directly owned 62,988 shares in the company, valued at $1,413,450.72. This trade represents a 2.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Castle Biosciences

A number of large investors have recently modified their holdings of CSTL. Allspring Global Investments Holdings LLC lifted its holdings in shares of Castle Biosciences by 2,070.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 217,794 shares of the company’s stock worth $4,360,000 after purchasing an additional 207,761 shares in the last quarter. First Bank & Trust lifted its holdings in shares of Castle Biosciences by 75.5% in the 1st quarter. First Bank & Trust now owns 15,136 shares of the company’s stock worth $303,000 after purchasing an additional 6,512 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Castle Biosciences by 9.6% in the 1st quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company’s stock worth $208,000 after purchasing an additional 908 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Castle Biosciences by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company’s stock worth $29,387,000 after purchasing an additional 32,208 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Castle Biosciences in the 1st quarter worth $423,000. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.