Park West Asset Management LLC Acquires Shares of 556,485 Castle Biosciences, Inc. $CSTL

Key Points

• Park West Asset Management LLC purchased 556,485 shares of Castle Biosciences, valued at approximately $11.1 million, representing 1.93% ownership of the company.
• Castle Biosciences reported earnings of $0.15 EPS, significantly beating analysts' expectations, and had revenues of $86.18 million for the quarter.
• Eight investment analysts have given Castle Biosciences a "Buy" rating, with a consensus price target set at $37.00.

Park West Asset Management LLC bought a new stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 556,485 shares of the company's stock, valued at approximately $11,141,000. Park West Asset Management LLC owned about 1.93% of Castle Biosciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSTL. Parkman Healthcare Partners LLC increased its holdings in shares of Castle Biosciences by 15.1% in the 1st quarter. Parkman Healthcare Partners LLC now owns 350,551 shares of the company's stock worth $7,018,000 after buying an additional 45,922 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Castle Biosciences by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,441 shares of the company's stock worth $309,000 after acquiring an additional 655 shares in the last quarter. AQR Capital Management LLC increased its stake in Castle Biosciences by 548.9% in the first quarter. AQR Capital Management LLC now owns 137,022 shares of the company's stock valued at $2,743,000 after acquiring an additional 115,907 shares during the last quarter. Amundi raised its position in Castle Biosciences by 15,811.5% during the first quarter. Amundi now owns 4,137 shares of the company's stock valued at $79,000 after purchasing an additional 4,111 shares in the last quarter. Finally, Birchview Capital LP raised its position in Castle Biosciences by 13.3% during the first quarter. Birchview Capital LP now owns 88,404 shares of the company's stock valued at $1,770,000 after purchasing an additional 10,404 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Canaccord Genuity Group reissued a "buy" rating and set a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday. Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Finally, Scotiabank decreased their target price 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. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Castle Biosciences Trading Down 6.9%

Shares of NASDAQ CSTL traded down $1.71 during mid-day trading on Wednesday, hitting $22.94. The stock had a trading volume of 379,802 shares, compared to its average volume of 554,678. The business has a 50 day moving average price of $19.66 and a two-hundred day moving average price of $19.41. Castle Biosciences, Inc. 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 quick ratio of 6.69 and a current ratio of 6.85. The firm has a market cap of $665.49 million, a P/E ratio of 70.43 and a beta of 1.07.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.15 earnings per share 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 during the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Castle Biosciences 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.