Nuveen LLC Invests $13.45 Million in Castle Biosciences, Inc. $CSTL

Key Points

• Nuveen LLC has made a new investment in Castle Biosciences, Inc. by acquiring 671,811 shares valued at approximately $13.45 million, bringing its ownership to about 2.33% of the company.
• Castle Biosciences reported a positive earnings per share of $0.15 for the last quarter, significantly surpassing analysts’ expectations of a loss, and the company had a revenue of $86.18 million.
• Several analysts have reduced their price targets for Castle Biosciences, with Canaccord Genuity lowering its target from $42.00 to $37.00, while maintaining a "buy" rating for the stock.

Nuveen LLC purchased a new stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 671,811 shares of the company's stock, valued at approximately $13,450,000. Nuveen LLC owned about 2.33% of Castle Biosciences at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSTL. Harbour Investments Inc. acquired a new position in shares of Castle Biosciences during the 1st quarter valued at about $50,000. CWM LLC boosted its position in shares of Castle Biosciences by 835.0% during the 1st 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 boosted its position in shares of Castle Biosciences by 1,865.8% during the 1st 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 boosted its position in shares of Castle Biosciences by 9.6% during the 1st 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, ProShare Advisors LLC acquired a new position in shares of Castle Biosciences during the 4th quarter valued at about $230,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Castle Biosciences Trading Down 1.3%

NASDAQ:CSTL traded down $0.27 on Monday, reaching $20.57. 281,230 shares of the company's stock were exchanged, compared to its average volume of 475,670. The company has a quick ratio of 6.69, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $596.74 million, a price-to-earnings ratio of -58.77 and a beta of 1.09. The business has a fifty day moving average of $18.74 and a 200-day moving average of $19.69. Castle Biosciences, Inc. has a 52-week low of $14.59 and a 52-week 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 analysts' consensus estimates of ($0.51) by $0.66. The company had revenue of $86.18 million for 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. As a group, analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Lake Street Capital lowered their price target on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Scotiabank reduced their price objective 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. Canaccord Genuity Group reduced their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, Castle Biosciences currently has a consensus rating of "Buy" and an average price target of $37.00.

About Castle Biosciences

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.