Castle Biosciences (NASDAQ:CSTL) Hits New 12-Month High – What’s Next?

Castle Biosciences, Inc. (NASDAQ:CSTL)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $42.87 and last traded at $42.8450, with a volume of 78298 shares. The stock had previously closed at $40.98.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 29th. Guggenheim upped their target price on shares of Castle Biosciences from $30.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 5th. Lake Street Capital raised their price target on shares of Castle Biosciences from $35.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, BTIG Research boosted their price objective on shares of Castle Biosciences from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

Castle Biosciences Price Performance

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -93.32 and a beta of 1.06. The company has a quick ratio of 6.31, a current ratio of 6.47 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $38.86 and its 200-day moving average is $28.02.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.32. Castle Biosciences had a positive return on equity of 1.73% and a negative net margin of 3.56%.The company had revenue of $80.55 million for the quarter, compared to the consensus estimate of $71.06 million. Equities research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tobin W. Juvenal sold 4,693 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $35.58, for a total transaction of $166,976.94. Following the completion of the sale, the insider owned 84,595 shares in the company, valued at $3,009,890.10. This trade represents a 5.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Derek J. Maetzold sold 6,695 shares of Castle Biosciences stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $30.44, for a total transaction of $203,795.80. Following the transaction, the insider directly owned 56,293 shares of the company’s stock, valued at $1,713,558.92. This represents a 10.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,442 shares of company stock worth $1,826,797 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Amundi grew its position in Castle Biosciences by 15,811.5% during the 1st quarter. Amundi now owns 4,137 shares of the company’s stock worth $79,000 after acquiring an additional 4,111 shares during the last quarter. AQR Capital Management LLC boosted its stake in Castle Biosciences by 548.9% in the first quarter. AQR Capital Management LLC now owns 137,022 shares of the company’s stock worth $2,743,000 after purchasing an additional 115,907 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Castle Biosciences by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company’s stock worth $309,000 after purchasing an additional 655 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Castle Biosciences by 10,592.0% during the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Castle Biosciences in the first quarter valued at $366,000. 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.