Allspring Global Investments Holdings LLC Acquires 207,761 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Allspring Global Investments Holdings LLC increased its position 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 and Exchange Commission (SEC). The firm owned 217,794 shares of the company's stock after acquiring an additional 207,761 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.76% of Castle Biosciences worth $4,360,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CSTL. Bank of New York Mellon Corp boosted its position in Castle Biosciences by 10.3% in the fourth quarter. Bank of New York Mellon Corp now owns 84,459 shares of the company's stock valued at $2,251,000 after buying an additional 7,881 shares in the last quarter. AlphaQuest LLC boosted its position in Castle Biosciences by 136.9% in the fourth quarter. AlphaQuest LLC now owns 10,231 shares of the company's stock valued at $273,000 after buying an additional 5,913 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Castle Biosciences by 2.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 168,713 shares of the company's stock valued at $4,496,000 after buying an additional 3,255 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its position in Castle Biosciences by 52.7% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 13,587 shares of the company's stock valued at $362,000 after buying an additional 4,688 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in Castle Biosciences by 39.8% in the fourth quarter. Intech Investment Management LLC now owns 11,578 shares of the company's stock valued at $309,000 after buying an additional 3,294 shares in the last quarter. Institutional investors own 92.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on CSTL shares. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Canaccord Genuity Group decreased their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Lake Street Capital decreased their price objective on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Scotiabank decreased their price objective on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday, May 21st. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $37.00.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $21.52, for a total value of $26,598.72. Following the transaction, the insider directly owned 74,627 shares of the company's stock, valued at $1,605,973.04. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by insiders.

Castle Biosciences Stock Performance

NASDAQ CSTL traded down $0.84 on Monday, hitting $19.46. 576,172 shares of the stock were exchanged, compared to its average volume of 423,850. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.37 and a quick ratio of 9.19. The business's fifty day moving average is $17.99 and its 200 day moving average is $21.95. Castle Biosciences, Inc. has a 52 week low of $15.45 and a 52 week high of $35.84. The company has a market capitalization of $561.81 million, a PE ratio of -102.42 and a beta of 1.10.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $87.99 million for the quarter, compared to the consensus estimate of $80.40 million. Research analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

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.