Bank of America Corp DE Has $10.76 Million Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Bank of America Corp DE raised its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 403,553 shares of the company's stock after acquiring an additional 201,806 shares during the quarter. Bank of America Corp DE owned about 1.44% of Castle Biosciences worth $10,755,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CSTL. BNP Paribas Financial Markets acquired a new position in shares of Castle Biosciences in the 4th quarter valued at $6,639,000. Algert Global LLC increased its holdings in Castle Biosciences by 11.3% in the fourth quarter. Algert Global LLC now owns 149,491 shares of the company's stock valued at $3,984,000 after purchasing an additional 15,170 shares during the last quarter. Northern Trust Corp lifted its stake in Castle Biosciences by 8.7% in the fourth quarter. Northern Trust Corp now owns 284,587 shares of the company's stock valued at $7,584,000 after buying an additional 22,657 shares during the period. Tudor Investment Corp ET AL lifted its stake in Castle Biosciences by 41.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 70,076 shares of the company's stock valued at $1,868,000 after buying an additional 20,586 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in Castle Biosciences during the fourth quarter worth about $539,000. Institutional investors and hedge funds own 92.60% of the company's stock.

Castle Biosciences Stock Down 1.9%

NASDAQ CSTL traded down $0.30 on Tuesday, reaching $15.80. The company had a trading volume of 530,958 shares, compared to its average volume of 407,389. The company's fifty day moving average is $19.05 and its 200-day moving average is $24.29. Castle Biosciences, Inc. has a 1-year low of $15.66 and a 1-year high of $35.84. The firm has a market capitalization of $456.18 million, a price-to-earnings ratio of 79.00 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The firm had revenue of $87.99 million for the quarter, compared to analyst estimates of $80.40 million. On average, research analysts forecast that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $21.52, for a total transaction of $26,598.72. Following the completion of the transaction, the insider now owns 74,627 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders sold a total of 27,454 shares of company stock valued at $553,030 in the last quarter. 6.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CSTL has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered their price target on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Scotiabank lowered their target price on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research note on Wednesday, May 21st. Lake Street Capital cut their target price on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird boosted their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Finally, Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price 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.