Castle Biosciences’ (CSTL) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Castle Biosciences (NASDAQ:CSTL) in a report issued on Tuesday,Benzinga reports. They currently have a $37.00 price target on the stock.

Several other brokerages also recently commented on CSTL. Scotiabank lowered their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Zacks Research upgraded shares of Castle Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 27th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Castle Biosciences Stock Down 0.8%

Shares of CSTL opened at $22.75 on Tuesday. Castle Biosciences has a one year low of $14.59 and a one year high of $35.84. The company has a market cap of $659.98 million, a P/E ratio of -65.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69. The firm has a 50 day simple moving average of $19.77 and a two-hundred day simple moving average of $19.42.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data 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 negative net margin of 2.73% and a positive return on equity of 2.37%. The business had revenue of $86.18 million during the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Research analysts forecast that Castle Biosciences will post 0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC grew its stake in shares of Castle Biosciences by 29.1% in the second quarter. Squarepoint Ops LLC now owns 125,719 shares of the company’s stock worth $2,567,000 after purchasing an additional 28,359 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Castle Biosciences by 256.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,791 shares of the company’s stock valued at $57,000 after acquiring an additional 2,009 shares during the last quarter. Wasatch Advisors LP boosted its position in Castle Biosciences by 5.1% during the second quarter. Wasatch Advisors LP now owns 1,049,773 shares of the company’s stock valued at $21,436,000 after acquiring an additional 51,318 shares during the last quarter. Palisade Capital Management LP boosted its position in Castle Biosciences by 17.4% during the second quarter. Palisade Capital Management LP now owns 575,116 shares of the company’s stock valued at $11,744,000 after acquiring an additional 85,148 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its position in Castle Biosciences by 27.1% during the second quarter. Engineers Gate Manager LP now owns 67,252 shares of the company’s stock valued at $1,373,000 after acquiring an additional 14,329 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

About Castle Biosciences

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.