China Universal Asset Management Co. Ltd. Purchases 2,093 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

China Universal Asset Management Co. Ltd. lifted its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 64.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,335 shares of the company’s stock after acquiring an additional 2,093 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Castle Biosciences were worth $152,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Castle Biosciences by 89.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,862 shares of the company’s stock worth $241,000 after purchasing an additional 5,123 shares during the last quarter. Norden Group LLC purchased a new position in Castle Biosciences during the 1st quarter valued at $547,000. Diversify Advisory Services LLC bought a new position in Castle Biosciences in the 1st quarter valued at $278,000. RiverPark Advisors LLC increased its stake in Castle Biosciences by 362.2% in the first quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after purchasing an additional 2,242 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of Castle Biosciences by 9.0% during the first quarter. GSA Capital Partners LLP now owns 52,448 shares of the company’s stock worth $1,162,000 after purchasing an additional 4,352 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSTL. Canaccord Genuity Group raised their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. BTIG Research lifted their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Robert W. Baird increased their price objective on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $37.00 target price on shares of Castle Biosciences in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $35.14.

Castle Biosciences Stock Performance

Shares of CSTL stock opened at $34.67 on Friday. The firm has a market cap of $957.13 million, a price-to-earnings ratio of -247.64 and a beta of 1.03. Castle Biosciences, Inc. has a 52-week low of $14.22 and a 52-week high of $34.73. The company has a quick ratio of 7.92, a current ratio of 8.12 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $30.50 and its 200 day moving average is $25.30.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.47. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. The firm had revenue of $87.00 million during the quarter, compared to analyst estimates of $69.95 million. During the same period in the previous year, the company posted ($0.70) EPS. On average, sell-side analysts anticipate that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Castle Biosciences

In related news, CFO Frank Stokes sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the completion of the transaction, the chief financial officer now owns 30,823 shares in the company, valued at $792,151.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Frank Stokes sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the chief financial officer now owns 30,823 shares of the company’s stock, valued at $792,151.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the transaction, the director now directly owns 8,550 shares in the company, valued at $227,857.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,694 shares of company stock valued at $820,497. 7.20% of the stock is currently owned by insiders.

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.