Algert Global LLC Boosts Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Algert Global LLC raised its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,321 shares of the company’s stock after buying an additional 599 shares during the period. Algert Global LLC owned about 0.48% of Castle Biosciences worth $3,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Castle Biosciences by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock valued at $33,096,000 after purchasing an additional 32,695 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Castle Biosciences by 147.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock worth $4,719,000 after buying an additional 98,571 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Castle Biosciences by 249.3% during 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. Lisanti Capital Growth LLC raised its holdings in shares of Castle Biosciences by 60.2% in the third quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after acquiring an additional 58,160 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Castle Biosciences in the third quarter worth about $1,478,000. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSTL. Scotiabank boosted their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. BTIG Research boosted their price objective on shares of Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Lake Street Capital increased their target price on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their price target on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, KeyCorp raised their price objective on Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $37.88.

Castle Biosciences Stock Down 1.0 %

Shares of CSTL stock opened at $29.51 on Tuesday. The stock’s fifty day moving average price is $30.96 and its 200 day moving average price is $26.53. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a market cap of $826.58 million, a price-to-earnings ratio of 147.56 and a beta of 0.99. 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 (NASDAQ:CSTL) last issued 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. The business had revenue of $85.78 million for the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. On average, research analysts expect that Castle Biosciences, Inc. will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Castle Biosciences news, CFO Frank Stokes sold 6,923 shares of Castle Biosciences stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the completion of the sale, the chief financial officer now owns 30,823 shares of the company’s stock, valued at approximately $922,532.39. The trade was a 18.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Bradbury sold 7,867 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $29.44, for a total value of $231,604.48. Following the completion of the transaction, the director now directly owns 5,700 shares in the company, valued at $167,808. This represents a 57.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,213 shares of company stock valued at $752,673. 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.