Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 274,761 shares of the company’s stock after acquiring an additional 39,417 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Castle Biosciences were worth $7,836,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CSTL. Quest Partners LLC lifted its holdings in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock worth $123,000 after purchasing an additional 1,522 shares during the period. US Bancorp DE lifted its holdings in shares of 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 purchasing an additional 4,383 shares during the period. Assetmark Inc. lifted its holdings in shares of Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Castle Biosciences by 64.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted 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. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSTL has been the subject of several research analyst reports. KeyCorp increased their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Robert W. Baird increased their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group increased their price objective on Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Scotiabank increased their price objective on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, Lake Street Capital increased their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $37.88.

Castle Biosciences Trading Down 4.1 %

Shares of CSTL stock opened at $29.63 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. Castle Biosciences, Inc. has a 1 year low of $16.97 and a 1 year high of $35.84. The stock has a fifty day moving average of $31.24 and a two-hundred day moving average of $27.00. The firm has a market capitalization of $829.85 million, a PE ratio of 151.80 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. The business had revenue of $85.78 million during 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 prior year, the firm posted ($0.26) earnings per share. As a group, research analysts expect that Castle Biosciences, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Frank Stokes sold 6,923 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at approximately $922,532.39. This represents a 18.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total value of $28,327.78. Following the completion of the transaction, the insider now directly owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,185 shares of company stock valued at $814,495 in the last three months. 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.