Caxton Associates LLP Buys Shares of 16,440 Castle Biosciences, Inc. $CSTL

Key Points

• Caxton Associates LLP has acquired 16,440 shares of Castle Biosciences, Inc., valued at approximately $329,000, during the first quarter of the year.
• Other hedge funds have also increased their stakes in Castle Biosciences significantly, with some reporting increases over 10,000% in ownership during the same period.
• Castle Biosciences surpassed earnings expectations, reporting a quarterly EPS of $0.15 against a consensus estimate of ($0.51), and anticipates a fiscal year 2025 EPS of 0.44.

Caxton Associates LLP bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,440 shares of the company's stock, valued at approximately $329,000. Caxton Associates LLP owned approximately 0.06% of Castle Biosciences at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CSTL. Harbour Investments Inc. bought a new stake in Castle Biosciences during the 1st quarter worth approximately $50,000. Jones Financial Companies Lllp raised its stake in Castle Biosciences by 10,592.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock worth $54,000 after buying an additional 2,648 shares during the period. Amundi raised its stake in Castle Biosciences by 15,811.5% during the 1st quarter. Amundi now owns 4,137 shares of the company's stock worth $79,000 after buying an additional 4,111 shares during the period. CWM LLC raised its stake in Castle Biosciences by 835.0% during the 1st quarter. CWM LLC now owns 4,142 shares of the company's stock worth $83,000 after buying an additional 3,699 shares during the period. Finally, GAMMA Investing LLC raised its stake in Castle Biosciences by 1,865.8% during the 1st quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock worth $87,000 after buying an additional 4,142 shares during the period. Institutional investors and hedge funds own 92.60% of the company's stock.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock opened at $21.42 on Friday. The company has a market cap of $621.39 million, a PE ratio of -61.20 and a beta of 1.07. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $35.84. The business has a 50 day moving average price of $19.79 and a 200-day moving average price of $19.39. The company has a quick ratio of 6.69, a current ratio of 6.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.15 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. Equities analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CSTL has been the topic of a number of research reports. Scotiabank dropped their price target on 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. Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday. Finally, Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.

Want to see what other hedge funds are holding CSTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.