Castle Biosciences, Inc. $CSTL Shares Purchased by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC has increased its stake in Castle Biosciences by 12.7%, acquiring 22,752 additional shares during the first quarter, bringing their total holdings to 201,687 shares valued at approximately $4 million.
• Castle Biosciences reported a quarterly earnings per share (EPS) of **$0.15**, significantly beating analyst expectations of **($0.51)**, alongside revenue of **$86.18 million** which also exceeded forecasts.
• Multiple analysts are optimistic about Castle Biosciences, with eight analysts rating the stock as "Buy" and one as "Hold", leading to a consensus target price of **$37.00**.

Advisors Capital Management LLC increased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,687 shares of the company's stock after acquiring an additional 22,752 shares during the quarter. Advisors Capital Management LLC owned approximately 0.70% of Castle Biosciences worth $4,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. acquired a new stake in Castle Biosciences during the first quarter worth about $50,000. Jones Financial Companies Lllp raised its stake in Castle Biosciences by 10,592.0% during the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock worth $54,000 after acquiring an additional 2,648 shares during the period. Amundi raised its stake in Castle Biosciences by 15,811.5% during the first quarter. Amundi now owns 4,137 shares of the company's stock worth $79,000 after acquiring an additional 4,111 shares during the period. CWM LLC raised its stake in Castle Biosciences by 835.0% during the first quarter. CWM LLC now owns 4,142 shares of the company's stock worth $83,000 after acquiring an additional 3,699 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Castle Biosciences by 1,865.8% in the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $87,000 after purchasing an additional 4,142 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSTL. Scotiabank dropped their price target on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, May 21st. Zacks Research upgraded shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Wall Street Zen upgraded shares of Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $37.00 price target on shares of Castle Biosciences in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Castle Biosciences Price Performance

NASDAQ CSTL opened at $22.75 on Friday. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 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 firm has a market capitalization of $659.98 million, a PE ratio of -65.00 and a beta of 1.07. The company's 50 day simple moving average is $19.77 and its 200 day simple moving average is $19.42.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of ($0.51) by $0.66. The business had revenue of $86.18 million for the quarter, compared to analyst estimates 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. As a group, equities research analysts forecast that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

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.

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