Castle Biosciences, Inc. (NASDAQ:CSTL) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 1.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 624,683 shares of the company’s stock after buying an additional 7,004 shares during the period. Geode Capital Management LLC’s holdings in Castle Biosciences were worth $17,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC increased its holdings in shares of Castle Biosciences by 54.4% in 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 last quarter. US Bancorp DE lifted 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 purchasing an additional 4,383 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Castle Biosciences in the third quarter worth $140,000. Assetmark Inc. increased its stake in 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 during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised 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. Institutional investors and hedge funds own 92.60% of the company’s stock.

Insider Transactions at Castle Biosciences

In other news, insider Derek J. Maetzold sold 9,364 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total value of $265,375.76. Following the transaction, the insider now owns 84,762 shares of the company’s stock, valued at $2,402,155.08. The trade was a 9.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Frank Stokes sold 6,923 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $29.93, for a total transaction of $207,205.39. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,549 shares of company stock valued at $1,079,871. Corporate insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CSTL. KeyCorp lifted their price target on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird lifted 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. BTIG Research upped 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. Canaccord Genuity Group boosted their price objective on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Lake Street Capital upped their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $39.71.

Castle Biosciences Stock Performance

CSTL stock opened at $26.83 on Friday. The company has a 50-day simple moving average of $30.49 and a 200 day simple moving average of $27.41. The company has a market capitalization of $751.43 million, a P/E ratio of 134.16 and a beta of 0.92. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84.

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. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same period in the prior year, the business posted ($0.26) EPS. Sell-side analysts predict that Castle Biosciences, Inc. will post 0.34 earnings per share for the current fiscal year.

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.