Birchview Capital LP Increases Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Birchview Capital LP increased its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 34.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,000 shares of the company's stock after acquiring an additional 20,000 shares during the quarter. Castle Biosciences comprises 1.7% of Birchview Capital LP's holdings, making the stock its 18th largest holding. Birchview Capital LP owned about 0.28% of Castle Biosciences worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in Castle Biosciences in the fourth quarter worth approximately $19,244,000. Renaissance Technologies LLC increased its holdings in shares of Castle Biosciences by 39.9% during the fourth quarter. Renaissance Technologies LLC now owns 685,000 shares of the company's stock valued at $18,255,000 after acquiring an additional 195,438 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Castle Biosciences by 15.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after acquiring an additional 134,645 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Castle Biosciences by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company's stock valued at $48,837,000 after purchasing an additional 83,783 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Castle Biosciences during the fourth quarter valued at about $1,959,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Castle Biosciences Trading Down 2.7 %

Shares of CSTL traded down $0.54 during mid-day trading on Thursday, reaching $19.52. The company's stock had a trading volume of 227,796 shares, compared to its average volume of 390,371. The stock has a market cap of $562.91 million, a PE ratio of 97.13 and a beta of 1.11. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The company's fifty day moving average price is $20.66 and its two-hundred day moving average price is $26.39.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $41.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 2nd. Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, Robert W. Baird boosted their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $38.75.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the transaction, the insider now owns 77,099 shares in the company, valued at approximately $1,565,109.70. The trade was 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 stock in a transaction dated Wednesday, February 5th. The stock was 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. In the last ninety days, insiders sold 35,321 shares of company stock worth $774,644. 7.20% of the stock is currently owned by insiders.

Castle Biosciences 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.