Castle Biosciences, Inc. $CSTL Stock Holdings Boosted by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Castle Biosciences by 22.3% in Q1, now owning 248,991 shares worth approximately $4.98 million.
• Castle Biosciences reported earnings of $0.15 per share, significantly beating analysts' expectations of ($0.51) and generating revenue of $86.18 million for the quarter.
• Wall Street analysts maintain a consensus price target of $37.00 for Castle Biosciences, with eight analysts rating the stock as a Buy and one as a Hold.

Trexquant Investment LP lifted its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 22.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 248,991 shares of the company's stock after purchasing an additional 45,420 shares during the quarter. Trexquant Investment LP owned 0.86% of Castle Biosciences worth $4,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSTL. Oak Harvest Investment Services lifted its position in Castle Biosciences by 118.5% in the first quarter. Oak Harvest Investment Services now owns 16,883 shares of the company's stock worth $338,000 after buying an additional 9,156 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new position in Castle Biosciences in the first quarter valued at about $396,000. Quantbot Technologies LP purchased a new position in Castle Biosciences in the first quarter valued at about $306,000. Wellington Management Group LLP increased its holdings in shares of Castle Biosciences by 14.7% during the first quarter. Wellington Management Group LLP now owns 828,528 shares of the company's stock valued at $16,587,000 after acquiring an additional 106,408 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Castle Biosciences by 7.1% during the first quarter. American Century Companies Inc. now owns 74,067 shares of the company's stock valued at $1,483,000 after acquiring an additional 4,892 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL traded down $1.01 during trading on Wednesday, reaching $23.20. The company had a trading volume of 656,781 shares, compared to its average volume of 703,245. Castle Biosciences, Inc. has a twelve month low of $14.59 and a twelve month high of $35.84. The stock has a market capitalization of $673.03 million, a PE ratio of -66.28 and a beta of 1.07. The stock has a 50-day moving average price of $19.37 and a two-hundred day moving average price of $19.54. 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 posted its quarterly earnings results on Monday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CSTL shares. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Scotiabank reduced their target price 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. Zacks Research raised Castle Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Canaccord Genuity Group cut their target price on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Lake Street Capital lowered their price target on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.