Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 87.3% in the third quarter, Holdings Channel reports. The firm owned 69,382 shares of the company’s stock after purchasing an additional 32,344 shares during the quarter. Franklin Resources Inc.’s holdings in Castle Biosciences were worth $1,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSTL. Point72 Asset Management L.P. grew its position in shares of Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after acquiring an additional 445,415 shares in the last quarter. Marshall Wace LLP lifted its stake in Castle Biosciences by 116.5% during the second quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock worth $4,616,000 after purchasing an additional 114,104 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Castle Biosciences by 147.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after purchasing an additional 98,571 shares during the period. Renaissance Technologies LLC increased its stake in Castle Biosciences by 47.3% during the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock valued at $6,564,000 after purchasing an additional 96,800 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Castle Biosciences during the second quarter worth $2,102,000. 92.60% of the stock is owned by institutional investors.

Insider Activity

In other Castle Biosciences news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the sale, the insider now directly owns 94,622 shares in the company, valued at $2,718,490.06. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction on Monday, October 7th. The shares were sold at an average price of $29.44, for a total value of $231,604.48. Following the transaction, the director now owns 5,700 shares in the company, valued at approximately $167,808. This trade represents a 57.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,549 shares of company stock worth $1,079,871 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Castle Biosciences Stock Down 2.2 %

CSTL opened at $27.10 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84. The stock’s 50 day moving average price is $30.61 and its 200 day moving average price is $27.35. The stock has a market cap of $758.99 million, a P/E ratio of 135.51 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The business had revenue of $85.78 million for the quarter, compared to analysts’ expectations of $78.55 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. During the same period in the previous year, the business earned ($0.26) earnings per share. As a group, research analysts predict that Castle Biosciences, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. 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 report on Monday, October 14th. Scotiabank lifted their target price on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. Lake Street Capital increased their price target on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird raised their price target on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, KeyCorp upped their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences has an average rating of “Buy” and a consensus price target of $39.71.

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.