Allianz Asset Management GmbH Acquires 74,265 Shares of Castle Biosciences, Inc. $CSTL

Allianz Asset Management GmbH lifted its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 713,742 shares of the company's stock after purchasing an additional 74,265 shares during the quarter. Allianz Asset Management GmbH owned 2.47% of Castle Biosciences worth $14,575,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. bought a new stake in shares of Castle Biosciences in the first quarter worth $50,000. Jones Financial Companies Lllp lifted its position in shares of Castle Biosciences by 10,592.0% in the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company's stock worth $54,000 after purchasing an additional 2,648 shares in the last quarter. Amundi lifted its position in shares of Castle Biosciences by 15,811.5% in the first quarter. Amundi now owns 4,137 shares of the company's stock worth $79,000 after purchasing an additional 4,111 shares in the last quarter. CWM LLC lifted its position in shares of Castle Biosciences by 835.0% in the first quarter. CWM LLC now owns 4,142 shares of the company's stock worth $83,000 after purchasing an additional 3,699 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Castle Biosciences by 1,865.8% in the first quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock worth $87,000 after purchasing an additional 4,142 shares in the last quarter. Institutional investors own 92.60% of the company's stock.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,339 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $21.97, for a total value of $29,417.83. Following the transaction, the insider directly owned 65,666 shares in the company, valued at $1,442,682.02. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $37.00 price objective on shares of Castle Biosciences in a research report on Tuesday, September 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of Castle Biosciences in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Castle Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Zacks Research upgraded shares of Castle Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 27th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Castle Biosciences presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.57.

Castle Biosciences Price Performance

Shares of CSTL opened at $23.01 on Tuesday. The company has a market cap of $667.52 million, a price-to-earnings ratio of -65.74 and a beta of 1.13. Castle Biosciences, Inc. has a 1-year low of $14.59 and a 1-year high of $35.84. The company's fifty day simple moving average is $22.38 and its 200 day simple moving average is $19.79. The company has a current ratio of 6.85, a quick ratio of 6.69 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.51) by $0.66. Castle Biosciences had a negative net margin of 2.73% and a positive return on equity of 2.37%. The firm had revenue of $86.18 million for the quarter, compared to the consensus estimate of $71.53 million. Castle Biosciences has set its FY 2025 guidance at EPS. On average, research analysts forecast that Castle Biosciences, Inc. will post 0.44 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.

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