Jacobs Levy Equity Management Inc. Sells 113,483 Shares of Castle Biosciences, Inc. $CSTL

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Castle Biosciences by 84.2%, selling 113,483 shares, resulting in ownership of approximately 21,299 shares valued at $426,000.
• Castle Biosciences shares have declined 5.8% recently, with a current trading price of $21.42 and a market cap of $621.39 million.
• Analysts have raised Castle Biosciences' stock rating from "strong sell" to "hold," while the consensus target price stands at $37.00 with a rating of "Moderate Buy."

Jacobs Levy Equity Management Inc. lowered its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 84.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,299 shares of the company's stock after selling 113,483 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.07% of Castle Biosciences worth $426,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbour Investments Inc. bought a new stake in Castle Biosciences in the 1st quarter valued at $50,000. Amundi increased its holdings in Castle Biosciences by 15,811.5% in the 1st quarter. Amundi now owns 4,137 shares of the company's stock valued at $79,000 after buying an additional 4,111 shares during the period. CWM LLC increased its holdings in Castle Biosciences by 835.0% in the 1st quarter. CWM LLC now owns 4,142 shares of the company's stock valued at $83,000 after buying an additional 3,699 shares during the period. GAMMA Investing LLC increased its holdings in Castle Biosciences by 1,865.8% in the 1st quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $87,000 after buying an additional 4,142 shares during the period. Finally, Teacher Retirement System of Texas increased 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 buying an additional 908 shares during the period. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Stock Down 5.8%

Shares of NASDAQ CSTL opened at $21.42 on Friday. The firm's 50-day simple moving average is $19.79 and its 200 day simple moving average is $19.39. The company has a market cap of $621.39 million, a price-to-earnings ratio of -61.20 and a beta of 1.07. 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, 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. The business had revenue of $86.18 million for the quarter, compared to the consensus estimate 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. On average, research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Wall Street Zen raised shares of Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Scotiabank lowered 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 report on Wednesday, May 21st. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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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