Point72 Asset Management L.P. Acquires Shares of 53,777 Castle Biosciences, Inc. (NASDAQ:CSTL)

Point72 Asset Management L.P. acquired a new stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 53,777 shares of the company’s stock, valued at approximately $1,171,000. Point72 Asset Management L.P. owned about 0.19% of Castle Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC raised its stake in shares of Castle Biosciences by 362.2% during the 1st quarter. RiverPark Advisors LLC now owns 2,861 shares of the company’s stock worth $63,000 after buying an additional 2,242 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Castle Biosciences by 70.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,297 shares of the company’s stock worth $117,000 after buying an additional 2,187 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Castle Biosciences during the 1st quarter worth approximately $186,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Castle Biosciences by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after buying an additional 952 shares in the last quarter. Finally, Birchview Capital LP purchased a new position in shares of Castle Biosciences during the 4th quarter worth approximately $216,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 2,793 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the sale, the chief operating officer now owns 145,825 shares in the company, valued at approximately $3,216,899.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Kristen M. Oelschlager sold 2,793 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the sale, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Bradbury sold 7,883 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 approximately $227,857.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,665 shares of company stock worth $828,222. 7.20% of the stock is owned by insiders.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $28.42 on Friday. Castle Biosciences, Inc. has a 1-year low of $12.07 and a 1-year high of $32.53. The company has a market capitalization of $784.59 million, a P/E ratio of -24.71 and a beta of 1.03. The business has a 50 day moving average price of $27.92 and a 200 day moving average price of $23.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.47. The firm had revenue of $87.00 million for 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 in the prior year, the firm earned ($0.70) EPS. Sell-side analysts expect that Castle Biosciences, Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their target price on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of Castle Biosciences in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.80.

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.