Is Castle Biosciences, Inc. overvalued or undervalued?

As of 5 May 2025, the valuation grade for Castle Biosciences, Inc. has moved from attractive to risky, indicating a significant shift in the company's perceived value. The company is currently considered overvalued. Key ratios include a Price to Book Value of 1.15, an EV to EBITDA of 8.54, and a ROCE of -7.81%.
In comparison to its peers, Castle Biosciences shows a concerning P/E ratio of -127.48, while Artivion, Inc. has a P/E of -111.78 and Silk Road Medical, Inc. stands at -19.76. The company's recent stock performance has lagged behind the S&P 500, with a year-to-date return of -29.27% compared to the index's 2.44%, reinforcing the notion that the stock is overvalued in the current market environment.