Magnetar Financial LLC Invests $225,000 in Castle Biosciences, Inc. $CSTL

Key Points

• Magnetar Financial LLC has acquired a new stake in Castle Biosciences, purchasing 11,226 shares valued at approximately $225,000 during the first quarter.
• Castle Biosciences reported impressive earnings, with a $0.15 earnings per share for the quarter, exceeding analysts' expectations of a loss.
• Analysts have mixed opinions on Castle Biosciences' stock, with eight rating it as a Buy and a consensus price target of $37.00.

Magnetar Financial LLC bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,226 shares of the company's stock, valued at approximately $225,000.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Castle Biosciences by 2,070.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 217,794 shares of the company's stock valued at $4,360,000 after purchasing an additional 207,761 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Castle Biosciences in the fourth quarter valued at $230,000. Deutsche Bank AG grew its holdings in Castle Biosciences by 12.5% in the fourth quarter. Deutsche Bank AG now owns 67,667 shares of the company's stock valued at $1,803,000 after purchasing an additional 7,495 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Castle Biosciences during the fourth quarter valued at $2,414,000. Finally, Man Group plc acquired a new stake in shares of Castle Biosciences during the fourth quarter valued at $354,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CSTL shares. Zacks Research raised Castle Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Scotiabank decreased 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. Finally, Wall Street Zen raised Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $37.00.

Castle Biosciences Trading Up 2.0%

NASDAQ CSTL traded up $0.47 during trading hours on Friday, hitting $23.56. 233,004 shares of the company's stock were exchanged, compared to its average volume of 588,171. The business's 50 day moving average is $19.50 and its 200-day moving average is $19.43. Castle Biosciences, Inc. has a 12-month low of $14.59 and a 12-month high of $35.84. The firm has a market capitalization of $683.43 million, a P/E ratio of -67.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.69 and a current ratio of 6.85.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.15 earnings per share 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 for the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS 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.