Castle Biosciences (NASDAQ:CSTL) Releases Quarterly Earnings Results, Beats Expectations By $0.66 EPS

Key Points

• Castle Biosciences (NASDAQ:CSTL) reported an earnings per share (EPS) of $0.15 for the quarter, significantly exceeding analysts' expectations by $0.59.
• The company's debt-to-equity ratio is very low at 0.02, indicating strong financial stability, while institutional investors own 92.60% of Castle Biosciences' stock.
• Equities analysts have decreased their price targets for CSTL, with the average consensus price target now at $37.00 following several reports rating the stock as "buy."

Castle Biosciences (NASDAQ:CSTL - Get Free Report) released its quarterly earnings data on Monday. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.66, Zacks reports. The company had revenue of $86.18 million for the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences had a positive return on equity of 3.41% and a negative net margin of 1.46%. Castle Biosciences updated its FY 2025 guidance to EPS.

Castle Biosciences Trading Up 4.6%

NASDAQ:CSTL opened at $15.32 on Tuesday. The company has a market cap of $442.29 million, a P/E ratio of -80.63 and a beta of 1.09. The stock's fifty day moving average price is $18.00 and its two-hundred day moving average price is $20.42. Castle Biosciences has a 1 year low of $14.59 and a 1 year high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.37 and a quick ratio of 9.19.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock valued at $54,000 after acquiring an additional 2,648 shares during the last quarter. Amundi increased its holdings in shares of Castle Biosciences by 15,811.5% in the first quarter. Amundi now owns 4,137 shares of the company's stock worth $79,000 after buying an additional 4,111 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Castle Biosciences by 4.4% during the first 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. Finally, AQR Capital Management LLC boosted its holdings in shares of Castle Biosciences by 548.9% during the first quarter. AQR Capital Management LLC now owns 137,022 shares of the company's stock worth $2,743,000 after purchasing an additional 115,907 shares during the period. Institutional investors own 92.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CSTL shares. Canaccord Genuity Group lowered their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Scotiabank decreased their target price on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 21st. Finally, Lake Street Capital decreased their target price on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $37.00.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a molecular diagnostics company, provides testing solutions for the diagnosis and treatment of dermatologic cancers, Barrett's esophagus, uveal melanoma, and mental health conditions. It offers DecisionDx-Melanoma, a risk stratification gene expression profile (GEP) test to identify the risk of metastasis for patients diagnosed with invasive cutaneous melanoma; DecisionDx-SCC, a proprietary risk stratification GEP test for patients with cutaneous squamous cell carcinoma; MyPath Melanoma, a test used for patients with difficult-to-diagnose melanocytic lesions; and TissueCypher, a spatial omics test to predict future development of high-grade dysplasia and/or esophageal cancer in patients with non-dysplastic, indefinite dysplasia, or low-grade dysplasia Barrett's esophagus.