Aquatic Capital Management LLC Buys New Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

Aquatic Capital Management LLC purchased a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,218 shares of the company's stock, valued at approximately $539,000. Aquatic Capital Management LLC owned about 0.07% of Castle Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Birchview Capital LP increased its stake in shares of Castle Biosciences by 34.5% in the fourth quarter. Birchview Capital LP now owns 78,000 shares of the company's stock worth $2,079,000 after buying an additional 20,000 shares during the period. Nebula Research & Development LLC bought a new position in shares of Castle Biosciences during the fourth quarter valued at about $711,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Castle Biosciences by 8.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,697 shares of the company's stock worth $605,000 after purchasing an additional 1,837 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Castle Biosciences by 201.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,265 shares of the company's stock worth $300,000 after purchasing an additional 7,524 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Castle Biosciences by 11.4% during the 4th quarter. MetLife Investment Management LLC now owns 16,017 shares of the company's stock valued at $427,000 after purchasing an additional 1,645 shares during the period. Institutional investors own 92.60% of the company's stock.

Insider Activity at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total transaction of $25,090.80. Following the completion of the sale, the insider now owns 77,099 shares in the company, valued at approximately $1,565,109.70. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $28.17, for a total transaction of $221,613.39. The disclosure for this sale can be found here. Insiders sold 35,321 shares of company stock valued at $774,644 over the last 90 days. Corporate insiders own 7.20% of the company's stock.

Castle Biosciences Stock Down 12.2 %

Shares of Castle Biosciences stock traded down $2.28 during trading on Tuesday, hitting $16.47. The company's stock had a trading volume of 1,247,488 shares, compared to its average volume of 397,886. The company has a market capitalization of $475.02 million, a PE ratio of 82.13 and a beta of 1.19. 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 52 week low of $15.69 and a 52 week high of $35.84. The company has a fifty day simple moving average of $20.28 and a two-hundred day simple moving average of $25.99.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). The company had revenue of $87.99 million for the quarter, compared to analysts' expectations of $80.40 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. Equities research analysts predict that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group cut their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, Robert W. Baird raised their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $38.13.

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.