Advantage Alpha Capital Partners LP Buys New Holdings 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 purchased a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSTL. Harbour Investments Inc. acquired a new stake in shares of Castle Biosciences during the first quarter worth $50,000. CWM LLC increased its stake in Castle Biosciences by 835.0% during the 1st quarter. CWM LLC now owns 4,142 shares of the company's stock worth $83,000 after purchasing an additional 3,699 shares in the last quarter. GAMMA Investing LLC raised its holdings in Castle Biosciences by 1,865.8% during the 1st quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock worth $87,000 after buying an additional 4,142 shares during the period. Teacher Retirement System of Texas lifted its stake in Castle Biosciences by 9.6% in the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock valued at $208,000 after buying an additional 908 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Castle Biosciences during the fourth quarter worth $230,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSTL has been the topic of a number of recent research reports. Scotiabank dropped their target price on 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. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Lake Street Capital dropped their target price on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group dropped their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $37.00.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock traded up $0.54 on Wednesday, hitting $21.89. The stock had a trading volume of 582,911 shares, compared to its average volume of 476,373. The business's 50 day moving average is $18.82 and its two-hundred day moving average is $19.65. The stock has a market cap of $634.91 million, a price-to-earnings ratio of -62.45 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. 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 released its quarterly earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Analysts forecast that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

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.