Advantage Alpha Capital Partners LP Invests $396,000 in Castle Biosciences, Inc. $CSTL

Key Points

• Advantage Alpha Capital Partners LP invested $396,000 in Castle Biosciences, acquiring 19,805 shares during the first quarter, bringing their total ownership to approximately 0.07% of the company.
• Several large investors, including Harbour Investments Inc. and CWM LLC, have made significant investments in Castle Biosciences, increasing total institutional ownership to 92.60%.
• Wall Street analysts have recently adjusted their price targets for Castle Biosciences, with an average target price of $37.00 and a consensus rating of "Buy".

Advantage Alpha Capital Partners LP acquired a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,805 shares of the company's stock, valued at approximately $396,000. Advantage Alpha Capital Partners LP owned about 0.07% of Castle Biosciences as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Harbour Investments Inc. purchased a new position in shares of Castle Biosciences in the 1st quarter worth $50,000. CWM LLC grew its stake in shares of Castle Biosciences by 835.0% during the first quarter. CWM LLC now owns 4,142 shares of the company's stock valued at $83,000 after acquiring an additional 3,699 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Castle Biosciences by 1,865.8% during the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $87,000 after acquiring an additional 4,142 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Castle Biosciences by 9.6% during the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock valued at $208,000 after acquiring an additional 908 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new position in Castle Biosciences in the fourth quarter worth about $230,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSTL. Scotiabank decreased their price target on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research note on Wednesday, May 21st. Lake Street Capital decreased their price target on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Canaccord Genuity Group decreased their price target on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Castle Biosciences presently has an average rating of "Buy" and a consensus target price of $37.00.

Castle Biosciences Stock Up 1.0%

Shares of Castle Biosciences stock opened at $19.97 on Friday. The company has a current ratio of 6.85, a quick ratio of 6.69 and a debt-to-equity ratio of 0.02. The business's 50 day simple moving average is $18.70 and its 200-day simple moving average is $19.86. The stock has a market capitalization of $579.33 million, a price-to-earnings ratio of -57.06 and a beta of 1.09. Castle Biosciences, Inc. has a twelve month low of $14.59 and a twelve month high of $35.84.

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, topping analysts' consensus estimates of ($0.51) by $0.66. The business had revenue of $86.18 million for the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%. Castle Biosciences has set its FY 2025 guidance at EPS. Equities research analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current 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.

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