Inspire Investing LLC Has $343,000 Holdings in Castle Biosciences, Inc. $CSTL

Key Points

• Inspire Investing LLC reduced its stake in Castle Biosciences by 62.5% in Q1, now holding 17,153 shares worth approximately $343,000.
• Castle Biosciences posted a positive earnings per share of $0.15, significantly beating estimates of ($0.51), along with reported revenue of $86.18 million.
• A majority of analysts maintain a positive outlook on Castle Biosciences, with eight giving a Buy rating and a consensus price target of $37.00.

Inspire Investing LLC decreased its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,153 shares of the company's stock after selling 28,597 shares during the period. Inspire Investing LLC owned approximately 0.06% of Castle Biosciences worth $343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Strs Ohio bought a new position in shares of Castle Biosciences in the first quarter valued at approximately $366,000. Advisors Capital Management LLC boosted its holdings in shares of Castle Biosciences by 12.7% in the first quarter. Advisors Capital Management LLC now owns 201,687 shares of the company's stock valued at $4,038,000 after acquiring an additional 22,752 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Castle Biosciences by 65.4% in the first quarter. Acadian Asset Management LLC now owns 676,066 shares of the company's stock valued at $13,527,000 after acquiring an additional 267,416 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Castle Biosciences in the first quarter valued at approximately $329,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock valued at $54,000 after acquiring an additional 2,648 shares in the last quarter. Institutional investors own 92.60% of the company's stock.

Wall Street Analysts Forecast Growth

CSTL has been the subject of several recent analyst reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, September 9th. Zacks Research upgraded shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Finally, Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Castle Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,339 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $21.97, for a total transaction of $29,417.83. Following the transaction, the insider owned 65,666 shares in the company, valued at approximately $1,442,682.02. This trade represents a 2.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.50% of the company's stock.

Castle Biosciences Stock Up 4.0%

CSTL stock traded up $0.95 during midday trading on Friday, reaching $24.41. The company had a trading volume of 692,026 shares, compared to its average volume of 429,972. 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. The company has a market capitalization of $708.13 million, a P/E ratio of -69.74 and a beta of 1.07. The company has a 50 day moving average of $20.07 and a two-hundred day moving average of $19.37.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its 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. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The company 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. On average, equities research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

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.