Goldman Sachs Group Inc. Sells 257,425 Shares of Castle Biosciences, Inc. $CSTL

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. trimmed its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 59.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,325 shares of the company's stock after selling 257,425 shares during the period. Goldman Sachs Group Inc. owned about 0.61% of Castle Biosciences worth $3,510,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CSTL. Wellington Management Group LLP acquired a new position in shares of Castle Biosciences in the 4th quarter valued at approximately $19,244,000. Nuveen LLC acquired a new position in shares of Castle Biosciences in the 1st quarter valued at approximately $13,450,000. Park West Asset Management LLC acquired a new position in shares of Castle Biosciences in the 1st quarter valued at approximately $11,141,000. Millennium Management LLC raised its position in shares of Castle Biosciences by 290.5% in the 4th quarter. Millennium Management LLC now owns 548,809 shares of the company's stock valued at $14,626,000 after purchasing an additional 408,272 shares in the last quarter. Finally, Braidwell LP acquired a new position in shares of Castle Biosciences in the 1st quarter valued at approximately $7,312,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Stock Up 4.0%

Castle Biosciences stock traded up $0.95 during mid-day trading on Friday, hitting $24.41. The company's stock had a trading volume of 692,026 shares, compared to its average volume of 429,972. The firm's 50 day moving average is $20.07 and its 200 day moving average is $19.35. The company has a market cap of $708.13 million, a PE ratio of -69.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69. Castle Biosciences, Inc. has a 52-week low of $14.59 and a 52-week high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced 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. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%.The firm had revenue of $86.18 million during the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CSTL shares. Zacks Research raised Castle Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. 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, Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,339 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $21.97, for a total transaction of $29,417.83. Following the completion of the sale, the insider directly owned 65,666 shares of the company's stock, valued at $1,442,682.02. This trade represents a 2.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by company insiders.

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.