Castle Biosciences, Inc. $CSTL Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its position in Castle Biosciences by 59.5%, now holding 175,325 shares worth approximately $3.51 million.
• After recent updates, Castle Biosciences has received improved ratings from some analysts, with Canaccord Genuity setting a price target of $37.00.
• The company reported a quarterly earnings of $0.15 EPS, exceeding expectations and showing significant revenue of $86.18 million.

Goldman Sachs Group Inc. lessened its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 59.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 175,325 shares of the company's stock after selling 257,425 shares during the period. Goldman Sachs Group Inc. owned approximately 0.61% of Castle Biosciences worth $3,510,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Castle Biosciences by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company's stock valued at $40,992,000 after buying an additional 215,030 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Castle Biosciences by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company's stock valued at $29,387,000 after purchasing an additional 32,208 shares during the last quarter. Wellington Management Group LLP grew its position in Castle Biosciences by 14.7% during the 1st quarter. Wellington Management Group LLP now owns 828,528 shares of the company's stock worth $16,587,000 after purchasing an additional 106,408 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Castle Biosciences by 65.4% in the first quarter. Acadian Asset Management LLC now owns 676,066 shares of the company's stock worth $13,527,000 after buying an additional 267,416 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Castle Biosciences during the first quarter worth $13,450,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,339 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $21.97, for a total value of $29,417.83. Following the completion of the transaction, the insider owned 65,666 shares in the company, valued at $1,442,682.02. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.50% of the stock is currently owned by insiders.

Castle Biosciences Price Performance

Shares of NASDAQ:CSTL traded up $0.95 during midday trading on Friday, hitting $24.41. The company had a trading volume of 692,026 shares, compared to its average volume of 429,972. Castle Biosciences, Inc. has a twelve month low of $14.59 and a twelve month high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69. The business's 50-day simple moving average is $20.07 and its 200-day simple moving average is $19.37. The stock has a market cap of $708.13 million, a price-to-earnings ratio of -69.74 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.66. The business had revenue of $86.18 million during the quarter, compared to the consensus estimate 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, research analysts predict that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on CSTL. 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 report on Tuesday, September 9th. Finally, Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Castle Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

About Castle Biosciences

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.