Cubist Systematic Strategies LLC Grows Stock Position in Castle Biosciences, Inc. $CSTL

Key Points

• Cubist Systematic Strategies LLC increased its ownership in Castle Biosciences, Inc. by 33.9%, holding 237,698 shares worth approximately $4.76 million.
• Castle Biosciences reported quarterly earnings of $0.15 per share, significantly exceeding estimates, with revenue of $86.18 million for the quarter.
• The stock has seen recent upgrades from analysts, with a consensus rating of "Moderate Buy" and an average target price of $37.00.

Cubist Systematic Strategies LLC boosted its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 33.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,698 shares of the company's stock after buying an additional 60,161 shares during the period. Cubist Systematic Strategies LLC owned 0.82% of Castle Biosciences worth $4,759,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CSTL. Harbour Investments Inc. acquired a new stake in shares of Castle Biosciences in the 1st quarter worth $50,000. CWM LLC grew its holdings in shares of Castle Biosciences by 835.0% in the first quarter. CWM LLC now owns 4,142 shares of the company's stock valued at $83,000 after purchasing an additional 3,699 shares during the period. GAMMA Investing LLC increased its position in Castle Biosciences by 1,865.8% during the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock worth $87,000 after purchasing an additional 4,142 shares during the last quarter. ProShare Advisors LLC purchased a new position in Castle Biosciences during the fourth quarter worth about $230,000. Finally, Teacher Retirement System of Texas boosted its holdings in Castle Biosciences by 9.6% in the 1st 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 last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Trading Down 6.9%

Castle Biosciences stock traded down $1.71 during midday trading on Wednesday, reaching $22.94. 379,802 shares of the stock traded hands, compared to its average volume of 554,678. The firm has a market cap of $665.49 million, a PE ratio of -65.54 and a beta of 1.07. The company has a current ratio of 6.85, a quick ratio of 6.69 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $19.72 and a two-hundred day simple moving average of $19.43. Castle Biosciences, Inc. has a 12-month low of $14.59 and a 12-month high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly 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. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The business had revenue of $86.18 million for the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. Research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSTL. Zacks Research upgraded shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Scotiabank lowered their price objective on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 21st. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Canaccord Genuity Group reaffirmed 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock presently 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.