Empowered Funds LLC Buys Shares of 142,338 Castle Biosciences, Inc. $CSTL

Empowered Funds LLC bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 142,338 shares of the company’s stock, valued at approximately $3,395,000.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in Castle Biosciences during the second quarter valued at approximately $26,000. Federated Hermes Inc. acquired a new position in Castle Biosciences in the 4th quarter valued at approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in Castle Biosciences in the 4th quarter worth approximately $35,000. Jones Financial Companies Lllp lifted its position 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 in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Castle Biosciences by 63.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,508 shares of the company’s stock valued at $57,000 after buying an additional 976 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences Stock Up 1.2%

CSTL stock opened at $33.44 on Wednesday. The firm has a market cap of $1.02 billion, a PE ratio of -50.67 and a beta of 0.99. Castle Biosciences, Inc. has a 1 year low of $17.72 and a 1 year high of $44.28. The company has a fifty day simple moving average of $27.71 and a 200 day simple moving average of $25.44. The company has a current ratio of 6.04, a quick ratio of 5.85 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results on Thursday, July 30th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.34. Castle Biosciences had a negative net margin of 5.43% and a negative return on equity of 4.15%. The firm had revenue of $99.86 million for the quarter, compared to the consensus estimate of $86.23 million. Sell-side analysts anticipate that Castle Biosciences, Inc. will post -1.29 EPS for the current fiscal year.

Insider Transactions at Castle Biosciences

In other news, insider Tobin W. Juvenal sold 9,050 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $35.04, for a total transaction of $317,112.00. Following the transaction, the insider owned 66,914 shares of the company’s stock, valued at approximately $2,344,666.56. This represents a 11.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Derek J. Maetzold sold 12,428 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $33.20, for a total value of $412,609.60. Following the completion of the transaction, the insider directly owned 21,479 shares in the company, valued at $713,102.80. The trade was a 36.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 188,517 shares of company stock worth $5,612,900. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Roth Capital started coverage on shares of Castle Biosciences in a report on Wednesday, June 24th. They set a “buy” rating and a $40.00 price target on the stock. Zacks Research lowered Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. KeyCorp set a $35.00 price objective on Castle Biosciences in a research report on Friday, May 29th. BTIG Research boosted their target price on Castle Biosciences from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen raised Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

About Castle Biosciences

Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.

The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.