Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 147.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 165,458 shares of the company’s stock after acquiring an additional 98,571 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Castle Biosciences were worth $4,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in 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. Harbor Capital Advisors Inc. lifted 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 valued at $3,020,000 after buying an additional 99,001 shares in the last quarter. Lisanti Capital Growth LLC grew its stake in Castle Biosciences by 60.2% in the 3rd 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 during the period. GSA Capital Partners LLP purchased a new stake in Castle Biosciences in the 3rd quarter worth $1,478,000. Finally, Principal Financial Group Inc. increased its holdings in Castle Biosciences by 2.7% in 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 in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

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 shares were 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 directly owns 30,823 shares in the company, valued at $922,532.39. This trade represents a 18.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.73, for a total transaction 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 trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,213 shares of company stock valued at $752,673 over the last quarter. 7.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CSTL shares. KeyCorp lifted their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lifted their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. BTIG Research increased their target price on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Robert W. Baird raised their target price on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Stephens reiterated an “overweight” rating and set a $37.00 price target on shares of Castle Biosciences in a research report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences currently has a consensus rating of “Buy” and an average price target of $37.88.

Castle Biosciences Stock Up 3.2 %

Shares of NASDAQ:CSTL opened at $29.81 on Friday. Castle Biosciences, Inc. has a 52-week low of $16.97 and a 52-week high of $35.84. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $30.98 and a two-hundred day moving average of $26.48. The stock has a market cap of $834.98 million, a P/E ratio of 149.06 and a beta of 0.99.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.14. The firm had revenue of $85.78 million during 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 last year, the business 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 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.