Alpha DNA Investment Management LLC Trims Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Alpha DNA Investment Management LLC reduced its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,038 shares of the company’s stock after selling 3,002 shares during the period. Alpha DNA Investment Management LLC’s holdings in Castle Biosciences were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CSTL. Intrinsic Edge Capital Management LLC lifted its holdings in Castle Biosciences by 108.8% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock valued at $7,041,000 after purchasing an additional 170,000 shares in the last quarter. Parkman Healthcare Partners LLC raised its position in shares of Castle Biosciences by 59.0% during the 4th quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock valued at $7,707,000 after purchasing an additional 132,564 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Castle Biosciences by 130.7% during the 1st quarter. Acadian Asset Management LLC now owns 210,824 shares of the company’s stock valued at $4,669,000 after buying an additional 119,443 shares in the last quarter. Marshall Wace LLP boosted its holdings in Castle Biosciences by 116.5% in the 2nd quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock worth $4,616,000 after buying an additional 114,104 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Castle Biosciences by 249.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock worth $3,020,000 after buying an additional 99,001 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSTL has been the topic of several research analyst reports. Stephens restated an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, August 6th. Robert W. Baird lifted their target price on Castle Biosciences from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Five 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 $32.80.

Castle Biosciences Trading Down 2.2 %

Shares of Castle Biosciences stock opened at $28.60 on Thursday. 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 firm has a market cap of $789.65 million, a price-to-earnings ratio of -24.87 and a beta of 1.02. Castle Biosciences, Inc. has a twelve month low of $12.07 and a twelve month high of $32.53. The business has a 50-day moving average price of $26.72 and a 200-day moving average price of $23.40.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.47. The business had revenue of $87.00 million during the quarter, compared to analysts’ expectations of $69.95 million. Castle Biosciences had a negative return on equity of 0.77% and a negative net margin of 1.08%. During the same quarter last year, the business posted ($0.70) EPS. Equities research analysts anticipate that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Castle Biosciences news, Director Daniel Bradbury sold 7,883 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the transaction, the director now owns 8,550 shares in the company, valued at $227,857.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Frank Stokes sold 10,000 shares of Castle Biosciences stock in a transaction dated 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 transaction, the chief financial officer now owns 30,823 shares in the company, valued at $792,151.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Bradbury sold 7,883 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $26.65, for a total value of $210,081.95. Following the sale, the director now owns 8,550 shares in the company, valued at $227,857.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,665 shares of company stock worth $828,222. Insiders own 7.20% of the company’s stock.

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.