Geode Capital Management LLC Boosts Stake in Castle Biosciences, Inc. $CSTL

Geode Capital Management LLC grew its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 6.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 689,926 shares of the company’s stock after acquiring an additional 40,073 shares during the quarter. Geode Capital Management LLC owned about 2.38% of Castle Biosciences worth $14,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. purchased a new position in shares of Castle Biosciences in the 1st quarter worth approximately $50,000. Jones Financial Companies Lllp increased its stake in Castle Biosciences by 10,592.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after buying an additional 2,648 shares during the period. Amundi raised its stake in shares of Castle Biosciences by 15,811.5% during the first quarter. Amundi now owns 4,137 shares of the company’s stock valued at $79,000 after acquiring an additional 4,111 shares in the last quarter. Magnetar Financial LLC bought a new stake in Castle Biosciences during the 1st quarter valued at $225,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Castle Biosciences in the first quarter valued at about $235,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Castle Biosciences Stock Down 2.2%

NASDAQ CSTL opened at $39.06 on Tuesday. The business has a fifty day moving average price of $28.35 and a 200 day moving average price of $22.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.31 and a current ratio of 6.47. The company has a market cap of $1.14 billion, a P/E ratio of -86.80 and a beta of 1.14. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $40.61.

Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. The firm had revenue of $80.55 million for the quarter, compared to analyst estimates of $71.06 million. Castle Biosciences had a negative net margin of 3.56% and a positive return on equity of 1.73%. Castle Biosciences has set its FY 2025 guidance at EPS. Research analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity

In related news, insider Tobin W. Juvenal sold 4,693 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $35.58, for a total value of $166,976.94. Following the completion of the sale, the insider owned 84,595 shares of the company’s stock, valued at approximately $3,009,890.10. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Derek J. Maetzold sold 6,695 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $30.44, for a total transaction of $203,795.80. Following the completion of the sale, the insider directly owned 56,293 shares of the company’s stock, valued at approximately $1,713,558.92. This trade represents a 10.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 34,537 shares of company stock valued at $1,037,845. 7.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CSTL has been the subject of a number of analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, September 9th. Robert W. Baird boosted their target price on shares of Castle Biosciences from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. BTIG Research upped their price target on shares of Castle Biosciences from $32.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Zacks Research raised shares of Castle Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.43.

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.