Ameriprise Financial Inc. Has $8.42 Million Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

Ameriprise Financial Inc. decreased its holdings in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,036 shares of the company's stock after selling 33,193 shares during the period. Ameriprise Financial Inc. owned about 1.13% of Castle Biosciences worth $8,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Algert Global LLC lifted its stake in Castle Biosciences by 11.3% during the fourth quarter. Algert Global LLC now owns 149,491 shares of the company's stock worth $3,984,000 after purchasing an additional 15,170 shares during the period. Northern Trust Corp lifted its stake in Castle Biosciences by 8.7% during the fourth quarter. Northern Trust Corp now owns 284,587 shares of the company's stock worth $7,584,000 after purchasing an additional 22,657 shares during the period. Tudor Investment Corp ET AL lifted its stake in Castle Biosciences by 41.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 70,076 shares of the company's stock worth $1,868,000 after purchasing an additional 20,586 shares during the period. Aquatic Capital Management LLC bought a new position in Castle Biosciences during the fourth quarter worth about $539,000. Finally, Birchview Capital LP lifted its stake in Castle Biosciences by 34.5% during the fourth quarter. Birchview Capital LP now owns 78,000 shares of the company's stock worth $2,079,000 after purchasing an additional 20,000 shares during the period. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Price Performance

Shares of CSTL traded up $0.21 during mid-day trading on Monday, hitting $16.10. 287,423 shares of the company traded hands, compared to its average volume of 406,893. Castle Biosciences, Inc. has a one year low of $15.66 and a one year high of $35.84. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $19.05 and a 200 day moving average of $24.29. The stock has a market capitalization of $464.84 million, a price-to-earnings ratio of 80.50 and a beta of 1.19.

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). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The business had revenue of $87.99 million during the quarter, compared to the consensus estimate of $80.40 million. As a group, equities analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CSTL has been the subject of a number of analyst reports. Lake Street Capital cut their price target on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped 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. Scotiabank dropped 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. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Robert W. Baird raised their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $37.00.

Insider Buying and Selling at Castle Biosciences

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $20.30, for a total value of $25,090.80. Following the sale, the insider now directly owns 77,099 shares in the company, valued at approximately $1,565,109.70. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 27,454 shares of company stock valued at $553,030. 6.50% of the stock is currently owned by insiders.

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.