Graham Capital Management L.P. Purchases 26,709 Shares of Castle Biosciences, Inc. $CSTL

Key Points

• Graham Capital Management L.P. increased its stake in Castle Biosciences by 64.1%, acquiring an additional 26,709 shares during the first quarter, bringing its total ownership to 68,385 shares valued at approximately $1.37 million.
• Castle Biosciences reported $86.18 million in revenue for the recent quarter, surpassing analyst estimates, and posted earnings of $0.15 per share, exceeding expectations significantly.
• Despite struggles reflected in a P/E ratio of -69.17, the majority of analysts maintain a "Moderate Buy" consensus rating for the stock with a target price of $37.00.

Graham Capital Management L.P. boosted its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 64.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,385 shares of the company's stock after acquiring an additional 26,709 shares during the quarter. Graham Capital Management L.P. owned 0.24% of Castle Biosciences worth $1,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. bought a new position in Castle Biosciences in the first quarter valued at $50,000. CWM LLC increased its stake in 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 acquiring an additional 3,699 shares during the last quarter. GAMMA Investing LLC increased its stake in 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 acquiring an additional 4,142 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Castle Biosciences by 9.6% in the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock valued at $208,000 after acquiring an additional 908 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in Castle Biosciences in the first quarter valued at $225,000. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Stock Performance

Castle Biosciences stock opened at $24.21 on Wednesday. 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 firm has a 50-day moving average of $19.29 and a 200-day moving average of $19.51. The firm has a market cap of $702.33 million, a P/E ratio of -69.17 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.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.66. The company had revenue of $86.18 million during 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. Sell-side analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on CSTL. Zacks Research raised Castle Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Lake Street Capital reduced their price objective on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group reduced their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Scotiabank reduced their price objective 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. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Castle Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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