Castle Biosciences, Inc. $CSTL Holdings Raised by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Castle Biosciences by 65.4%, holding 676,066 shares valued at approximately $13.5 million.
• Castle Biosciences reported earnings per share (EPS) of $0.15 for the quarter, significantly outperforming the consensus estimate of ($0.51), along with revenue of $86.18 million.
• Analysts have a consensus rating of "Moderate Buy" for Castle Biosciences stock, with an average price target of $37.00.

Acadian Asset Management LLC lifted its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 65.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 676,066 shares of the company's stock after purchasing an additional 267,416 shares during the quarter. Acadian Asset Management LLC owned about 2.34% of Castle Biosciences worth $13,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Castle Biosciences by 2,070.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 217,794 shares of the company's stock valued at $4,360,000 after purchasing an additional 207,761 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Castle Biosciences during the fourth quarter valued at about $230,000. Deutsche Bank AG raised its stake in shares of Castle Biosciences by 12.5% during the fourth quarter. Deutsche Bank AG now owns 67,667 shares of the company's stock valued at $1,803,000 after purchasing an additional 7,495 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Castle Biosciences during the fourth quarter valued at about $2,414,000. Finally, Man Group plc bought a new stake in Castle Biosciences in the fourth quarter worth about $354,000. 92.60% of the stock is currently owned by institutional investors.

Castle Biosciences Price Performance

NASDAQ CSTL opened at $22.75 on Friday. The stock's 50-day moving average price is $19.77 and its two-hundred day moving average price is $19.42. 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 company has a market cap of $659.98 million, a PE ratio of -65.00 and a beta of 1.07. Castle Biosciences, Inc. has a 1 year low of $14.59 and a 1 year high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.66. The firm had revenue of $86.18 million for the quarter, compared to the consensus estimate 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. On average, analysts predict that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CSTL shares. Zacks Research upgraded shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Scotiabank reduced their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group restated a "buy" rating and set a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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.

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