Castle Biosciences (NASDAQ:CSTL) Lowered to “Sell” at Zacks Investment Research

Castle Biosciences (NASDAQ:CSTL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “Castle Biosciences Inc. is a commercial-stage dermatological cancer company. It is focused on providing physicians and patients, clinically actionable genomic information. Castle Biosciences Inc. is based in Texas, United States. “

CSTL has been the subject of several other reports. Leerink Swann set a $33.00 price target on shares of Castle Biosciences and gave the stock a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird increased their price target on shares of Castle Biosciences from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Svb Leerink assumed coverage on shares of Castle Biosciences in a report on Monday, August 19th. They set an “outperform” rating and a $28.00 price target for the company. BTIG Research increased their price target on shares of Castle Biosciences to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Canaccord Genuity increased their price target on shares of Castle Biosciences from $26.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Castle Biosciences presently has an average rating of “Buy” and an average target price of $31.60.

NASDAQ CSTL opened at $16.67 on Monday. Castle Biosciences has a 52-week low of $16.08 and a 52-week high of $28.50. The business’s 50-day moving average price is $20.97.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.54). The company had revenue of $10.74 million for the quarter, compared to analysts’ expectations of $7.06 million. As a group, analysts predict that Castle Biosciences will post -1.57 EPS for the current fiscal year.

In related news, major shareholder Mgc Venture Partners 2013 Gp, bought 312,500 shares of the stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Kabakoff bought 62,500 shares of the stock in a transaction on Monday, July 29th. The shares were bought at an average price of $16.00 per share, for a total transaction of $1,000,000.00. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in Castle Biosciences stock. Essex Investment Management Co. LLC purchased a new stake in Castle Biosciences (NASDAQ:CSTL) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,238 shares of the company’s stock, valued at approximately $963,000. Essex Investment Management Co. LLC owned about 0.31% of Castle Biosciences at the end of the most recent reporting period.

About Castle Biosciences

Castle Biosciences, Inc, a commercial-stage dermatological cancer, develops and commercializes diagnostic and prognostic tests for cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify stage I and II patients at high risk of metastasis based on biological information from 31 genes within their tumor tissue.

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