1,590 Shares in Castle Biosciences, Inc. (NASDAQ:CSTL) Acquired by R Squared Ltd

R Squared Ltd purchased a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,590 shares of the company’s stock, valued at approximately $42,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after acquiring an additional 40,377 shares during the period. Bellevue Group AG lifted its position in Castle Biosciences by 3.7% during the 3rd quarter. Bellevue Group AG now owns 1,262,030 shares of the company’s stock worth $35,993,000 after acquiring an additional 44,929 shares during the period. Portolan Capital Management LLC lifted its holdings in shares of Castle Biosciences by 3.7% in the 3rd quarter. Portolan Capital Management LLC now owns 1,255,628 shares of the company’s stock valued at $35,811,000 after buying an additional 44,676 shares during the period. State Street Corp lifted its holdings in shares of Castle Biosciences by 9.8% in the 3rd quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after buying an additional 60,924 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Castle Biosciences by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 624,683 shares of the company’s stock valued at $17,820,000 after buying an additional 7,004 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CSTL shares. Canaccord Genuity Group raised their price target on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. KeyCorp raised their price target on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. BTIG Research raised their price target on 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 price objective on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Finally, Lake Street Capital lifted their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences has an average rating of “Buy” and an average price target of $40.29.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $28.27 on Monday. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84. The stock has a market cap of $791.84 million, a price-to-earnings ratio of 141.36 and a beta of 0.92. The business has a fifty day moving average of $28.42 and a 200-day moving average of $28.62. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The company had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. During the same period in the previous year, the firm posted ($0.26) earnings per share. As a group, analysts predict that Castle Biosciences, Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at Castle Biosciences

In related news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $28.03, for a total value of $27,637.58. Following the completion of the transaction, the insider now directly owns 80,818 shares in the company, valued at approximately $2,265,328.54. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $29.14, for a total value of $229,244.38. Following the completion of the transaction, the director now owns 1,425 shares of the company’s stock, valued at $41,524.50. The trade was a 84.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,306 shares of company stock valued at $1,063,756 over the last three months. 7.20% of the stock is currently owned by insiders.

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.