Weiss Ratings Reiterates "Sell (E+)" Rating for Castle Biosciences (NASDAQ:CSTL)

Key Points

• Weiss Ratings has reiterated a "Sell (E+)" rating for Castle Biosciences (NASDAQ:CSTL) amid mixed ratings from other analysts.
• Castle Biosciences' stock recently traded up 2.9%, reaching $23.59, with a market capitalization of $684.35 million.
• Insider Derek J. Maetzold sold 1,339 shares of CSTL stock, reducing his position by 2%, highlighting ongoing insider activity amid financial updates.

Castle Biosciences (NASDAQ:CSTL - Get Free Report)'s stock had its "sell (e+)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also weighed in on the stock. Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Canaccord Genuity Group reissued a "buy" rating and issued a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, September 9th. Finally, Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Castle Biosciences presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Castle Biosciences Trading Up 2.9%

Shares of CSTL traded up $0.67 during trading hours on Wednesday, hitting $23.59. The stock had a trading volume of 230,801 shares, compared to its average volume of 355,653. Castle Biosciences has a 12-month low of $14.59 and a 12-month high of $35.84. The firm has a market cap of $684.35 million, a P/E ratio of 65.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.69 and a current ratio of 6.85. The company's fifty day simple moving average is $21.46 and its 200 day simple moving average is $19.61.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, topping 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 company had revenue of $86.18 million during the quarter, compared to analyst estimates of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Equities research analysts forecast that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,339 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $21.97, for a total value of $29,417.83. Following the completion of the sale, the insider directly owned 65,666 shares in the company, valued at approximately $1,442,682.02. The trade was a 2.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.50% of the company's stock.

Institutional Trading of Castle Biosciences

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Castle Biosciences by 11.7% during the first quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company's stock worth $40,992,000 after buying an additional 215,030 shares during the period. Principal Financial Group Inc. raised its stake in Castle Biosciences by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company's stock valued at $29,387,000 after acquiring an additional 32,208 shares in the last quarter. Wasatch Advisors LP boosted its position in Castle Biosciences by 5.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,049,773 shares of the company's stock worth $21,436,000 after acquiring an additional 51,318 shares during the period. Wellington Management Group LLP increased its holdings in shares of Castle Biosciences by 14.7% during the first quarter. Wellington Management Group LLP now owns 828,528 shares of the company's stock valued at $16,587,000 after purchasing an additional 106,408 shares during the period. Finally, Braidwell LP raised its stake in shares of Castle Biosciences by 125.3% during the second quarter. Braidwell LP now owns 822,735 shares of the company's stock valued at $16,800,000 after purchasing an additional 457,488 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, 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.

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