Allspring Global Investments Holdings LLC Decreases Holdings in Castle Biosciences, Inc. $CSTL

Allspring Global Investments Holdings LLC lowered its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 26.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 161,175 shares of the company’s stock after selling 56,619 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Castle Biosciences were worth $3,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSTL. GAMMA Investing LLC lifted its position in Castle Biosciences by 1,865.8% in the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $87,000 after purchasing an additional 4,142 shares during the last quarter. First Bank & Trust lifted its position in Castle Biosciences by 75.5% in the first quarter. First Bank & Trust now owns 15,136 shares of the company’s stock valued at $303,000 after purchasing an additional 6,512 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Castle Biosciences by 9.6% in the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company’s stock valued at $208,000 after purchasing an additional 908 shares during the last quarter. Principal Financial Group Inc. lifted its position 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 purchasing an additional 32,208 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in Castle Biosciences in the first quarter valued at approximately $423,000. Institutional investors own 92.60% of the company’s stock.

Castle Biosciences Trading Up 3.9%

Castle Biosciences stock opened at $23.01 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.69. Castle Biosciences, Inc. has a one year low of $14.59 and a one year high of $35.84. The stock has a market capitalization of $667.52 million, a PE ratio of -65.74 and a beta of 1.13. The business’s fifty day moving average is $22.38 and its 200 day moving average is $19.79.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating 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 company had revenue of $86.18 million for the quarter, compared to analysts’ expectations of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 1,339 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $21.97, for a total value of $29,417.83. Following the transaction, the insider owned 65,666 shares of the company’s stock, valued at $1,442,682.02. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, September 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Castle Biosciences in a report on Wednesday, October 8th. Zacks Research upgraded Castle Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 27th. Finally, Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Castle Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

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.