Allspring Global Investments Holdings LLC Raises Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Allspring Global Investments Holdings LLC increased its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 2,070.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 217,794 shares of the company's stock after buying an additional 207,761 shares during the period. Allspring Global Investments Holdings LLC owned 0.76% of Castle Biosciences worth $4,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd purchased a new stake in shares of Castle Biosciences in the 4th quarter worth approximately $25,000. GAMMA Investing LLC lifted its position in Castle Biosciences by 1,865.8% in the 1st quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $87,000 after acquiring an additional 4,142 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Castle Biosciences in the 4th quarter valued at approximately $128,000. ProShare Advisors LLC bought a new position in Castle Biosciences in the 4th quarter valued at approximately $230,000. Finally, Teacher Retirement System of Texas bought a new position in Castle Biosciences in the 4th quarter valued at approximately $253,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Transactions at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $21.52, for a total value of $26,598.72. Following the completion of the sale, the insider owned 74,627 shares in the company, valued at approximately $1,605,973.04. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.50% of the company's stock.

Castle Biosciences Stock Performance

Castle Biosciences stock traded down $0.28 during trading on Thursday, reaching $19.84. The company had a trading volume of 282,912 shares, compared to its average volume of 421,815. Castle Biosciences, Inc. has a 52 week low of $15.45 and a 52 week high of $35.84. The firm's 50-day simple moving average is $17.98 and its 200 day simple moving average is $21.86. The firm has a market capitalization of $572.82 million, a price-to-earnings ratio of -104.42 and a beta of 1.10. The company has a current ratio of 9.37, a quick ratio of 9.19 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). Castle Biosciences had a positive return on equity of 3.41% and a negative net margin of 1.46%. The company had revenue of $87.99 million during the quarter, compared to the consensus estimate of $80.40 million. Sell-side analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSTL. Canaccord Genuity Group lowered 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, May 6th. Scotiabank lowered their price objective on Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 21st. Lake Street Capital lowered their price target on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim set a $30.00 price target on Castle Biosciences and gave the company a "buy" rating in a report on Friday, March 28th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $37.00.

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.