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 position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 59.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 175,325 shares of the company's stock after selling 257,425 shares during the quarter. 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 hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in Castle Biosciences by 100.0% during the fourth quarter. Bank of America Corp DE now owns 403,553 shares of the company's stock worth $10,755,000 after buying an additional 201,806 shares during the last quarter. Deutsche Bank AG increased its position in Castle Biosciences by 12.5% in the fourth quarter. Deutsche Bank AG now owns 67,667 shares of the company's stock worth $1,803,000 after buying an additional 7,495 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Castle Biosciences by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock valued at $394,000 after acquiring an additional 608 shares during the period. Millennium Management LLC lifted its stake in shares of Castle Biosciences by 290.5% during the 4th quarter. Millennium Management LLC now owns 548,809 shares of the company's stock valued at $14,626,000 after buying an additional 408,272 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of Castle Biosciences during the fourth quarter worth $354,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,339 shares of the stock in a transaction dated Wednesday, September 17th. The shares were 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 approximately $1,442,682.02. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Canaccord Genuity Group restated 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 upgraded shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Castle Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Castle Biosciences Stock Performance

Castle Biosciences stock traded down $0.33 during trading on Monday, reaching $24.08. The company had a trading volume of 301,635 shares, compared to its average volume of 446,854. The company has a current ratio of 6.85, a quick ratio of 6.69 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $35.84. The firm has a market capitalization of $698.56 million, a price-to-earnings ratio of -68.80 and a beta of 1.07. The firm's 50-day simple moving average is $20.17 and its 200 day simple moving average is $19.37.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its earnings results 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 analysts' expectations 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. Sell-side analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal 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.