Parkman Healthcare Partners LLC Boosts Holdings in Castle Biosciences, Inc. $CSTL

Key Points

• Parkman Healthcare Partners LLC increased its holdings in Castle Biosciences by 15.1% during the first quarter, now owning 1.21% of the company valued at $7,018,000.
• Castle Biosciences reported a positive EPS of $0.15 for the last quarter, exceeding analysts' expectations by $0.66 and achieving revenues of $86.18 million.
• The stock has a consensus rating of "Moderate Buy" from investment analysts, with an average target price set at $37.00.

Parkman Healthcare Partners LLC raised its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 15.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 350,551 shares of the company's stock after acquiring an additional 45,922 shares during the period. Parkman Healthcare Partners LLC owned approximately 1.21% of Castle Biosciences worth $7,018,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CSTL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Castle Biosciences by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock valued at $394,000 after purchasing an additional 608 shares in the last quarter. Diversify Wealth Management LLC increased its position in Castle Biosciences by 5.8% during the first quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company's stock valued at $260,000 after acquiring an additional 717 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Castle Biosciences by 9.6% during the first 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. Townsquare Capital LLC grew its holdings in Castle Biosciences by 7.1% during the first quarter. Townsquare Capital LLC now owns 23,772 shares of the company's stock valued at $476,000 after purchasing an additional 1,584 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Castle Biosciences by 8.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,697 shares of the company's stock valued at $605,000 after purchasing an additional 1,837 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Shares of NASDAQ CSTL traded up $0.59 during midday trading on Tuesday, reaching $24.65. The company had a trading volume of 308,877 shares, compared to its average volume of 562,972. The business's 50-day simple moving average is $19.66 and its 200 day simple moving average is $19.41. The stock has a market cap of $715.10 million, a P/E ratio of -70.43 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. 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 (NASDAQ:CSTL - Get Free Report) last posted 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 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, analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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