Castle Biosciences Stock Beta
| CSTL Stock | USD 24.33 1.49 6.52% |
Castle Biosciences fundamentals help investors to digest information that contributes to Castle Biosciences' financial success or failures. It also enables traders to predict the movement of Castle Stock. The fundamental analysis module provides a way to measure Castle Biosciences' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Castle Biosciences stock.
Castle | Beta |
Castle Biosciences Company Beta Analysis
Castle Biosciences' Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Castle Biosciences Beta | 0.92 |
Most of Castle Biosciences' fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Castle Biosciences is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Castle Beta Driver Correlations
Understanding the fundamental principles of building solid financial models for Castle Biosciences is extremely important. It helps to project a fair market value of Castle Stock properly, considering its historical fundamentals such as Beta. Since Castle Biosciences' main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Castle Biosciences' historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Castle Biosciences' interrelated accounts and indicators.
Click cells to compare fundamentals
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Castle Biosciences has a Beta of 0.924. This is 7.44% higher than that of the Biotechnology sector and 35.83% lower than that of the Health Care industry. The beta for all United States stocks is notably lower than that of the firm.
Castle Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Castle Biosciences' direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Castle Biosciences could also be used in its relative valuation, which is a method of valuing Castle Biosciences by comparing valuation metrics of similar companies.Castle Biosciences is currently under evaluation in beta category among related companies.
Castle Biosciences Institutional Holders
Institutional Holdings refers to the ownership stake in Castle Biosciences that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Castle Biosciences' outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Castle Biosciences' value.| Shares | Geode Capital Management, Llc | 2023-12-31 | 566.1 K | Jacobs Levy Equity Management, Inc. | 2023-09-30 | 547.4 K | Kornitzer Capital Management Inc | 2023-12-31 | 542.9 K | Palisade Capital Management Llc | 2023-12-31 | 539.1 K | Citadel Advisors Llc | 2023-09-30 | 518.1 K | Morgan Stanley - Brokerage Accounts | 2023-12-31 | 478 K | Parkman Healthcare Partners Llc | 2023-12-31 | 357.2 K | Intrinsic Edge Capital Management, Llc | 2023-12-31 | 326.3 K | Ameriprise Financial Inc | 2023-12-31 | 279.7 K | Wasatch Advisors Lp | 2023-12-31 | 2.6 M | Blackrock Inc | 2023-12-31 | 2.3 M |
Castle Biosciences returns are very sensitive to returns on the market. As the market goes up or down, Castle Biosciences is expected to follow.
Castle Fundamentals
| Return On Equity | -0.15 | ||||
| Return On Asset | -0.0943 | ||||
| Profit Margin | (0.26) % | ||||
| Operating Margin | (0.09) % | ||||
| Current Valuation | 399.26 M | ||||
| Shares Outstanding | 27.59 M | ||||
| Shares Owned By Insiders | 3.03 % | ||||
| Shares Owned By Institutions | 89.07 % | ||||
| Number Of Shares Shorted | 1.46 M | ||||
| Price To Earning | 87.86 X | ||||
| Price To Book | 1.41 X | ||||
| Price To Sales | 2.52 X | ||||
| Revenue | 219.79 M | ||||
| Gross Profit | 105.03 M | ||||
| EBITDA | (55.65 M) | ||||
| Net Income | (57.47 M) | ||||
| Cash And Equivalents | 273.17 M | ||||
| Cash Per Share | 10.39 X | ||||
| Total Debt | 15.31 M | ||||
| Debt To Equity | 0.02 % | ||||
| Current Ratio | 11.08 X | ||||
| Book Value Per Share | 14.27 X | ||||
| Cash Flow From Operations | (135 K) | ||||
| Short Ratio | 7.73 X | ||||
| Earnings Per Share | (2.14) X | ||||
| Target Price | 33.11 | ||||
| Number Of Employees | 610 | ||||
| Beta | 0.92 | ||||
| Market Capitalization | 630.09 M | ||||
| Total Asset | 477.81 M | ||||
| Retained Earnings | (218.37 M) | ||||
| Working Capital | 247.97 M | ||||
| Current Asset | 125.89 M | ||||
| Current Liabilities | 13.31 M | ||||
| Net Asset | 477.81 M |
About Castle Biosciences Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Castle Biosciences's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Castle Biosciences using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Castle Biosciences based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Castle Biosciences
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Castle Biosciences position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Castle Biosciences will appreciate offsetting losses from the drop in the long position's value.Moving together with Castle Stock
| 0.69 | EDSA | Edesa Biotech Financial Report 9th of May 2024 | PairCorr |
Moving against Castle Stock
| 0.66 | INDP | Indaptus Therapeutics Financial Report 9th of May 2024 | PairCorr |
| 0.57 | GBIO | Generation BioCo Financial Report 8th of May 2024 | PairCorr |
| 0.46 | VTYX | Ventyx Biosciences Financial Report 9th of May 2024 | PairCorr |
| 0.45 | LYRA | Lyra TherapeuticsInc Financial Report 10th of May 2024 | PairCorr |
The ability to find closely correlated positions to Castle Biosciences could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Castle Biosciences when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Castle Biosciences - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Castle Biosciences to buy it.
The correlation of Castle Biosciences is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Castle Biosciences moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Castle Biosciences moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Castle Biosciences can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Castle Biosciences Piotroski F Score and Castle Biosciences Altman Z Score analysis. For more information on how to buy Castle Stock please use our How to buy in Castle Stock guide.You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Complementary Tools for Castle Stock analysis
When running Castle Biosciences' price analysis, check to measure Castle Biosciences' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Castle Biosciences is operating at the current time. Most of Castle Biosciences' value examination focuses on studying past and present price action to predict the probability of Castle Biosciences' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Castle Biosciences' price. Additionally, you may evaluate how the addition of Castle Biosciences to your portfolios can decrease your overall portfolio volatility.
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| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |
Is Castle Biosciences' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Castle Biosciences. If investors know Castle will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Castle Biosciences listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.93) | Earnings Share (2.14) | Revenue Per Share 8.2 | Quarterly Revenue Growth 0.725 | Return On Assets (0.09) |
The market value of Castle Biosciences is measured differently than its book value, which is the value of Castle that is recorded on the company's balance sheet. Investors also form their own opinion of Castle Biosciences' value that differs from its market value or its book value, called intrinsic value, which is Castle Biosciences' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Castle Biosciences' market value can be influenced by many factors that don't directly affect Castle Biosciences' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Castle Biosciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if Castle Biosciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Castle Biosciences' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.