Vanguard Group Inc. Has $40.99 Million Stock Position in Castle Biosciences, Inc. $CSTL

Key Points

• Vanguard Group Inc. increased its stake in Castle Biosciences, acquiring an additional 215,030 shares, raising its total ownership to approximately 2,047,565 shares, valued at about $40.99 million.
• Analysts have lowered their price targets for Castle Biosciences, with Canaccord Genuity and Lake Street Capital setting new targets at $37.00 and $35.00, respectively, while maintaining "buy" ratings.
• Castle Biosciences reported a quarterly earnings result that beat expectations, with earnings per share of $0.15, significantly higher than the consensus estimate of ($0.51).

Vanguard Group Inc. lifted its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 11.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,047,565 shares of the company's stock after purchasing an additional 215,030 shares during the period. Vanguard Group Inc. owned 7.09% of Castle Biosciences worth $40,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Castle Biosciences by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock worth $394,000 after purchasing an additional 608 shares during the period. Invesco Ltd. increased its stake in Castle Biosciences by 2.3% during the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company's stock worth $734,000 after acquiring an additional 616 shares during the period. Diversify Wealth Management LLC increased its stake in Castle Biosciences by 5.8% during the 1st quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company's stock worth $260,000 after acquiring an additional 717 shares during the period. Teacher Retirement System of Texas increased its stake in Castle Biosciences by 9.6% during the 1st quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock worth $208,000 after acquiring an additional 908 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Castle Biosciences by 11.4% during the 4th quarter. MetLife Investment Management LLC now owns 16,017 shares of the company's stock worth $427,000 after acquiring an additional 1,645 shares during the period. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Trading Up 2.3%

Shares of NASDAQ CSTL traded up $0.55 during trading on Friday, reaching $24.01. The company had a trading volume of 518,805 shares, compared to its average volume of 742,594. The company's fifty day moving average price is $19.09 and its 200-day moving average price is $19.56. Castle Biosciences, Inc. has a 12 month low of $14.59 and a 12 month high of $35.84. The stock has a market cap of $696.53 million, a P/E ratio of -68.60 and a beta of 1.09. The company has a quick ratio of 6.69, a current ratio of 6.85 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, topping analysts' consensus estimates of ($0.51) by $0.66. The firm had revenue of $86.18 million for the quarter, compared to analysts' expectations of $71.53 million. Castle Biosciences had a positive return on equity of 2.37% and a negative net margin of 2.73%. Castle Biosciences has set its FY 2025 guidance at EPS. As a group, research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSTL. Lake Street Capital decreased 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. Zacks Research upgraded Castle Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday. Canaccord Genuity Group decreased 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. Wall Street Zen upgraded Castle Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Scotiabank decreased 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. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.