Castle Biosciences (NASDAQ:CSTL) Sets New 12-Month High – Here’s What Happened

Shares of Castle Biosciences, Inc. (NASDAQ:CSTL) hit a new 52-week high during trading on Thursday . The stock 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Castle Biosciences from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Guggenheim lifted their target price on Castle Biosciences from $30.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of Castle Biosciences in a research note on Monday, December 29th. Finally, Robert W. Baird lifted their price objective on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.00.

Castle Biosciences Trading Up 0.2%

The firm’s fifty day simple moving average is $39.20 and its 200 day simple moving average is $28.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.31 and a current ratio of 6.47. The stock has a market capitalization of $1.23 billion, a P/E ratio of -93.87 and a beta of 1.06.

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

Insider Activity at Castle Biosciences

In other Castle Biosciences news, insider Tobin W. Juvenal sold 4,693 shares of Castle Biosciences stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $35.58, for a total value of $166,976.94. Following the transaction, the insider owned 84,595 shares in the company, valued at $3,009,890.10. The trade was a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kristen M. Oelschlager sold 14,888 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $39.31, for a total transaction of $585,247.28. Following the completion of the transaction, the chief operating officer directly owned 12,323 shares of the company’s stock, valued at $484,417.13. This trade represents a 54.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 57,459 shares of company stock valued at $1,987,517 over the last ninety days. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CSTL. Harbor Capital Advisors Inc. lifted its holdings in Castle Biosciences by 2.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,432 shares of the company’s stock worth $523,000 after acquiring an additional 261 shares during the period. Franklin Resources Inc. increased its position in shares of Castle Biosciences by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 99,787 shares of the company’s stock valued at $2,272,000 after purchasing an additional 540 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Castle Biosciences by 4.4% during the 1st 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 period. Green Alpha Advisors LLC raised its stake in shares of Castle Biosciences by 7.3% during the 4th quarter. Green Alpha Advisors LLC now owns 10,236 shares of the company’s stock worth $398,000 after purchasing an additional 698 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Castle Biosciences by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 70,478 shares of the company’s stock worth $1,439,000 after buying an additional 707 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 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.