Quantbot Technologies LP Makes New Investment in Castle Biosciences, Inc. $CSTL

Key Points

• Quantbot Technologies LP acquired 15,287 shares of Castle Biosciences, Inc. (NASDAQ:CSTL) during the first quarter, valued at approximately $306,000, representing a 0.05% ownership stake in the company.
• Several analysts have adjusted their price targets for CSTL, with Canaccord Genuity lowering it from $42 to $37 while maintaining a "buy" rating, reflecting a general consensus rating of "buy" among research analysts.
• Castle Biosciences reported earnings of $0.15 per share, exceeding expectations, with revenue of $86.18 million for the quarter, compared to analysts' estimates of $71.53 million.

Quantbot Technologies LP bought a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,287 shares of the company's stock, valued at approximately $306,000. Quantbot Technologies LP owned 0.05% of Castle Biosciences as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Castle Biosciences by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company's stock valued at $40,992,000 after buying an additional 215,030 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Castle Biosciences by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company's stock valued at $29,387,000 after buying an additional 32,208 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Castle Biosciences by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after buying an additional 134,645 shares during the period. Wellington Management Group LLP grew its holdings in shares of Castle Biosciences by 14.7% in the 1st quarter. Wellington Management Group LLP now owns 828,528 shares of the company's stock valued at $16,587,000 after buying an additional 106,408 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Castle Biosciences in the 1st quarter valued at $13,450,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Castle Biosciences Stock Up 0.8%

CSTL traded up $0.20 during trading on Tuesday, hitting $24.21. The company had a trading volume of 659,313 shares, compared to its average volume of 703,245. The company has a market capitalization of $702.33 million, a PE ratio of -69.17 and a beta of 1.07. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $35.84. The firm's 50-day moving average price is $19.29 and its 200 day moving average price is $19.51. The company has a quick ratio of 6.69, a current ratio of 6.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.66. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The business had revenue of $86.18 million for the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

CSTL has been the subject of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Scotiabank cut their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 21st. Finally, Lake Street Capital cut their price objective on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Castle Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

About Castle Biosciences

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.