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Strength Seen in Castle Biosciences (CSTL): Can Its 9.4% Jump Turn into More Strength?
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Castle Biosciences, Inc. (CSTL - Free Report) shares ended the last trading session 9.4% higher at $34.26. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks.
The stock rallied as optimism grew over the company’s promising portfolio that consists of tests for skin cancers, Barrett’s esophagus, mental health conditions and uveal melanoma.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +69.2%. Revenues are expected to be $77.92 million, up 26.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Castle Biosciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CSTL going forward to see if this recent jump can turn into more strength down the road.
Castle Biosciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, 2seventy bio, Inc. , closed the last trading session 0.2% lower at $5. Over the past month, TSVT has returned 6.4%.
For 2seventy bio, Inc., the consensus EPS estimate for the upcoming report has changed +78.6% over the past month to -$0.14. This represents a change of +86% from what the company reported a year ago. 2seventy bio, Inc. currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Castle Biosciences (CSTL): Can Its 9.4% Jump Turn into More Strength?
Castle Biosciences, Inc. (CSTL - Free Report) shares ended the last trading session 9.4% higher at $34.26. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks.
The stock rallied as optimism grew over the company’s promising portfolio that consists of tests for skin cancers, Barrett’s esophagus, mental health conditions and uveal melanoma.
This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents a year-over-year change of +69.2%. Revenues are expected to be $77.92 million, up 26.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Castle Biosciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CSTL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Castle Biosciences belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, 2seventy bio, Inc. , closed the last trading session 0.2% lower at $5. Over the past month, TSVT has returned 6.4%.
For 2seventy bio, Inc., the consensus EPS estimate for the upcoming report has changed +78.6% over the past month to -$0.14. This represents a change of +86% from what the company reported a year ago. 2seventy bio, Inc. currently has a Zacks Rank of #2 (Buy).