Braidwell LP Buys Shares of 365,247 Castle Biosciences, Inc. $CSTL

Key Points

• Braidwell LP has acquired 365,247 shares of Castle Biosciences, valued at approximately $7.31 million, increasing its ownership to about 1.27% of the company.
• Castle Biosciences reported a quarterly earnings per share (EPS) of $0.15, significantly exceeding analysts' expectations of ($0.51), alongside a revenue of $86.18 million.
• Despite recent price target reductions from multiple analysts, the stock remains rated as a "Moderate Buy" with an average target price of $37.00.

Braidwell LP bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 365,247 shares of the company's stock, valued at approximately $7,312,000. Braidwell LP owned 1.27% of Castle Biosciences as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbour Investments Inc. bought a new stake in shares of Castle Biosciences in the 1st quarter valued at about $50,000. CWM LLC raised its holdings in shares of Castle Biosciences by 835.0% in the 1st quarter. CWM LLC now owns 4,142 shares of the company's stock valued at $83,000 after purchasing an additional 3,699 shares during the period. GAMMA Investing LLC raised its holdings in shares of Castle Biosciences by 1,865.8% in the 1st quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $87,000 after purchasing an additional 4,142 shares during the period. ProShare Advisors LLC bought a new stake in shares of Castle Biosciences in the 4th quarter valued at about $230,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Castle Biosciences by 9.6% in the 1st quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock valued at $208,000 after purchasing an additional 908 shares during the period. 92.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Scotiabank lowered their price target on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating on the stock in a report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Castle Biosciences Stock Performance

Shares of CSTL traded down $0.11 during mid-day trading on Thursday, hitting $23.09. 419,896 shares of the company's stock were exchanged, compared to its average volume of 481,089. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $35.84. The stock's 50-day simple moving average is $19.37 and its 200-day simple moving average is $19.54. The firm has a market cap of $669.79 million, a price-to-earnings ratio of -65.97 and a beta of 1.07. 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 announced its earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.51) by $0.66. The company had revenue of $86.18 million for the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. Castle Biosciences has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Castle Biosciences, Inc. will post 0.44 EPS 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.