Harbor Capital Advisors Inc. Lowers Stock Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Harbor Capital Advisors Inc. lowered its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 86.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,595 shares of the company's stock after selling 101,905 shares during the period. Harbor Capital Advisors Inc. owned about 0.06% of Castle Biosciences worth $332,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Castle Biosciences in the 4th quarter worth about $19,244,000. Millennium Management LLC boosted its stake in shares of Castle Biosciences by 290.5% in the fourth quarter. Millennium Management LLC now owns 548,809 shares of the company's stock worth $14,626,000 after acquiring an additional 408,272 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Castle Biosciences during the fourth quarter worth approximately $6,639,000. Captrust Financial Advisors raised its stake in Castle Biosciences by 2,567.5% in the 4th quarter. Captrust Financial Advisors now owns 215,322 shares of the company's stock valued at $5,738,000 after purchasing an additional 207,250 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Castle Biosciences by 100.0% in the 4th quarter. Bank of America Corp DE now owns 403,553 shares of the company's stock valued at $10,755,000 after purchasing an additional 201,806 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 1,236 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was 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 $1,565,109.70. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 2,685 shares of company stock worth $55,956. Corporate insiders own 6.50% of the company's stock.

Castle Biosciences Stock Performance

NASDAQ CSTL traded up $0.34 during trading hours on Wednesday, hitting $18.88. The company had a trading volume of 187,176 shares, compared to its average volume of 418,247. Castle Biosciences, Inc. has a 1-year low of $15.45 and a 1-year high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.19 and a current ratio of 9.37. The company has a market cap of $545.05 million, a PE ratio of -99.21 and a beta of 1.03. The business has a 50 day moving average of $18.29 and a 200-day moving average of $22.91.

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). The business had revenue of $87.99 million during the quarter, compared to analysts' expectations of $80.40 million. Castle Biosciences had a negative net margin of 1.46% and a positive return on equity of 3.41%. As a group, equities research analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Guggenheim set a $30.00 price target on Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Robert W. Baird boosted their price objective on Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Scotiabank cut their target price on 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 reduced 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, Canaccord Genuity Group lowered their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $37.00.

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.