Oak Harvest Investment Services Makes New $206,000 Investment in Castle Biosciences, Inc. (NASDAQ:CSTL)

Oak Harvest Investment Services bought a new stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,727 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new position in Castle Biosciences in the fourth quarter worth $42,000. Quest Partners LLC lifted its position in Castle Biosciences by 54.4% during the 3rd quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares during the period. US Bancorp DE boosted its stake in Castle Biosciences by 1,889.2% during the third quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after acquiring an additional 4,383 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Castle Biosciences in the third quarter worth about $140,000. Finally, Assetmark Inc. increased its stake in shares of Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after purchasing an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Analyst Ratings Changes

CSTL has been the topic of several analyst reports. Scotiabank boosted their target price on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Robert W. Baird increased their target price on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Lake Street Capital lifted their target price on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, KeyCorp upped 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. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.29.

Insider Transactions at Castle Biosciences

In related news, CFO Frank Stokes sold 6,923 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $29.93, for a total value of $207,205.39. Following the transaction, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at approximately $922,532.39. This trade represents a 18.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek J. Maetzold sold 986 shares of Castle Biosciences stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.03, for a total value of $27,637.58. Following the transaction, the insider now owns 80,818 shares in the company, valued at $2,265,328.54. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,306 shares of company stock worth $1,063,756 in the last quarter. Company insiders own 7.20% of the company’s stock.

Castle Biosciences Price Performance

NASDAQ CSTL opened at $28.27 on Friday. The stock has a market capitalization of $791.84 million, a price-to-earnings ratio of 141.36 and a beta of 0.92. Castle Biosciences, Inc. has a 1-year low of $16.97 and a 1-year high of $35.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. The business’s fifty day moving average price is $28.45 and its 200-day moving average price is $28.49.

Castle Biosciences (NASDAQ:CSTL) last posted its earnings results 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 company had revenue of $85.78 million for the quarter, compared to the consensus estimate 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 prior year, the company earned ($0.26) earnings per share. On average, equities analysts predict that Castle Biosciences, Inc. will post 0.38 earnings per share for the current year.

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.