671,811 Shares in Castle Biosciences, Inc. $CSTL Bought by Nuveen LLC

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 bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Castle Biosciences by 11.7% in the first quarter. Vanguard Group Inc. now owns 2,047,565 shares of the company's stock valued at $40,992,000 after acquiring an additional 215,030 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Castle Biosciences by 2.2% in the first quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company's stock valued at $29,387,000 after acquiring an additional 32,208 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Castle Biosciences by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after acquiring an additional 134,645 shares during the last quarter. Wellington Management Group LLP bought a new stake in Castle Biosciences in the fourth quarter valued at approximately $19,244,000. Finally, Allianz Asset Management GmbH boosted its holdings in Castle Biosciences by 98.4% in the first quarter. Allianz Asset Management GmbH now owns 639,477 shares of the company's stock valued at $12,802,000 after acquiring an additional 317,103 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSTL has been the topic of several analyst reports. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Canaccord Genuity Group dropped their price target 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. Scotiabank dropped their price target 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, Lake Street Capital dropped their price target 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. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Castle Biosciences has a consensus rating of "Buy" and an average price target of $37.00.

Castle Biosciences Stock Up 4.4%

Castle Biosciences stock traded up $0.93 during trading on Wednesday, hitting $22.28. 839,158 shares of the company were exchanged, compared to its average volume of 707,934. The business's 50 day moving average is $18.89 and its 200 day moving average is $19.67. Castle Biosciences, Inc. has a 52 week low of $14.59 and a 52 week high of $35.84. The company has a market capitalization of $646.34 million, a P/E ratio of -63.66 and a beta of 1.09. The company has a current ratio of 6.85, a quick ratio of 6.69 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced 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. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%.The business 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. Analysts predict that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

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.