The Manufacturers Life Insurance Company Buys 675 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

The Manufacturers Life Insurance Company raised its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 7.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,122 shares of the company’s stock after acquiring an additional 675 shares during the period. The Manufacturers Life Insurance Company’s holdings in Castle Biosciences were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CSTL. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Castle Biosciences by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock worth $215,000 after purchasing an additional 952 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Castle Biosciences by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock worth $400,000 after buying an additional 1,131 shares during the period. RiverPark Advisors LLC grew its position in shares of Castle Biosciences by 362.2% in 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 during the last quarter. Rhumbline Advisers increased its stake in shares of Castle Biosciences by 7.7% during the second quarter. Rhumbline Advisers now owns 41,896 shares of the company’s stock valued at $912,000 after buying an additional 2,988 shares during the period. Finally, ABG Innovation Capital Partners III GP Ltd raised its holdings in shares of Castle Biosciences by 9.3% during the second quarter. ABG Innovation Capital Partners III GP Ltd now owns 36,747 shares of the company’s stock valued at $800,000 after acquiring an additional 3,121 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. BTIG Research boosted their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird increased their price target on shares of 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 price objective on shares of Castle Biosciences in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $34.00.

Castle Biosciences Trading Down 1.3 %

Shares of NASDAQ CSTL opened at $32.64 on Friday. Castle Biosciences, Inc. has a 1 year low of $12.23 and a 1 year high of $34.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.12 and a quick ratio of 7.92. The firm has a 50-day moving average of $29.52 and a 200 day moving average of $24.57. The stock has a market cap of $901.09 million, a P/E ratio of -28.38 and a beta of 1.03.

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

Insider Buying and Selling at Castle Biosciences

In other news, CFO Frank Stokes sold 10,000 shares of the 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 sale, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at approximately $792,151.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Frank Stokes sold 10,000 shares of the company’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 value of $257,000.00. Following the transaction, the chief financial officer now owns 30,823 shares in the company, valued at approximately $792,151.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Derek J. Maetzold sold 1,972 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $32.27, for a total transaction of $63,636.44. Following the sale, the insider now owns 91,664 shares in the company, valued at approximately $2,957,997.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,476 shares of company stock worth $1,181,637. 7.20% of the stock is owned by insiders.

Castle Biosciences Company 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.