Russell Investments Group Ltd. Buys 11,457 Shares of Castle Biosciences, Inc. $CSTL

Key Points

• Russell Investments Group Ltd. has significantly increased its holdings in Castle Biosciences, Inc. by 158.9%, now owning 18,669 shares valued at $373,000.
• Castle Biosciences reported earnings of $0.15 per share for the latest quarter, surpassing expectations by $0.66, with a revenue of $86.18 million.
• Analysts have varied opinions on the stock, with eight giving it a Buy rating and a consensus price target set at $37.00.

Russell Investments Group Ltd. raised its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 158.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,669 shares of the company's stock after purchasing an additional 11,457 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Castle Biosciences worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CSTL. Wells Fargo & Company MN raised its stake in shares of Castle Biosciences by 29.0% in the fourth quarter. Wells Fargo & Company MN now owns 15,375 shares of the company's stock worth $410,000 after purchasing an additional 3,460 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Castle Biosciences by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock worth $26,636,000 after purchasing an additional 134,645 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Castle Biosciences by 11.4% in the fourth quarter. MetLife Investment Management LLC now owns 16,017 shares of the company's stock worth $427,000 after purchasing an additional 1,645 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Castle Biosciences by 8.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,697 shares of the company's stock worth $605,000 after purchasing an additional 1,837 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in shares of Castle Biosciences by 41.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 70,076 shares of the company's stock worth $1,868,000 after purchasing an additional 20,586 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock traded down $0.31 during trading hours on Thursday, reaching $22.89. The company had a trading volume of 169,370 shares, compared to its average volume of 479,538. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $35.84. The business has a fifty day simple moving average of $19.37 and a 200 day simple moving average of $19.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69. The firm has a market cap of $663.99 million, a PE ratio of -65.40 and a beta of 1.07.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CSTL has been the subject of a number of recent analyst reports. Zacks Research upgraded Castle Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Scotiabank reduced their price objective on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research note on Wednesday, May 21st. Finally, Wall Street Zen upgraded 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 assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

Castle Biosciences Company 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.