Algert Global LLC Lowers Stock Position in Castle Biosciences, Inc. $CSTL

Algert Global LLC decreased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,311 shares of the company’s stock after selling 5,180 shares during the quarter. Algert Global LLC’s holdings in Castle Biosciences were worth $2,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CSTL. JPMorgan Chase & Co. lifted its holdings in shares of Castle Biosciences by 55.5% during the 4th quarter. JPMorgan Chase & Co. now owns 107,936 shares of the company’s stock valued at $2,876,000 after acquiring an additional 38,527 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Castle Biosciences by 29.0% during the 4th quarter. Wells Fargo & Company MN now owns 15,375 shares of the company’s stock valued at $410,000 after acquiring an additional 3,460 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Castle Biosciences by 8.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 73,344 shares of the company’s stock valued at $1,955,000 after acquiring an additional 5,958 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Castle Biosciences by 2.3% during the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company’s stock valued at $734,000 after acquiring an additional 616 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Castle Biosciences by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company’s stock valued at $26,636,000 after acquiring an additional 134,645 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock opened at $19.78 on Thursday. The firm has a market cap of $573.82 million, a PE ratio of -56.51 and a beta of 1.09. The firm’s 50-day simple moving average is $18.67 and its 200-day simple moving average is $19.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.69 and a current ratio of 6.85. Castle Biosciences, Inc. has a 1 year low of $14.59 and a 1 year high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last issued its 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. The business had revenue of $86.18 million for the quarter, compared to analyst estimates of $71.53 million. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. Castle Biosciences has set its FY 2025 guidance at EPS. Equities analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Castle Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Scotiabank cut their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 21st. Canaccord Genuity Group cut their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Lake Street Capital cut their price objective on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.