Palisade Capital Management LP decreased its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,968 shares of the company's stock after selling 13,474 shares during the quarter. Palisade Capital Management LP owned approximately 1.70% of Castle Biosciences worth $9,809,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new stake in Castle Biosciences in the 4th quarter valued at about $230,000. Deutsche Bank AG grew its holdings in shares of Castle Biosciences by 12.5% during the 4th quarter. Deutsche Bank AG now owns 67,667 shares of the company's stock worth $1,803,000 after purchasing an additional 7,495 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Castle Biosciences during the 4th quarter worth about $2,414,000. Man Group plc purchased a new stake in shares of Castle Biosciences during the 4th quarter worth about $354,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Castle Biosciences by 15.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock worth $26,636,000 after purchasing an additional 134,645 shares during the period. Hedge funds and other institutional investors own 92.60% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CSTL. Canaccord Genuity Group decreased their target price on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Guggenheim set a $30.00 target price on Castle Biosciences and gave the stock a "buy" rating in a report on Friday, March 28th. Lake Street Capital decreased their target price on 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 target price on 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, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $37.00.
Check Out Our Latest Report on Castle Biosciences
Castle Biosciences Stock Up 1.4%
NASDAQ CSTL traded up $0.28 on Friday, reaching $20.29. The company had a trading volume of 166,047 shares, compared to its average volume of 423,238. The firm has a market capitalization of $585.63 million, a PE ratio of -106.76 and a beta of 1.10. Castle Biosciences, Inc. has a 1 year low of $15.45 and a 1 year high of $35.84. The firm has a 50-day moving average of $17.99 and a 200-day moving average of $22.02. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.37 and a quick ratio of 9.19.
Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). The company had revenue of $87.99 million during the quarter, compared to analysts' expectations of $80.40 million. Castle Biosciences had a positive return on equity of 3.41% and a negative net margin of 1.46%. On average, equities research analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.
Insider Activity at Castle Biosciences
In other news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $21.52, for a total transaction of $26,598.72. Following the completion of the transaction, the insider directly owned 74,627 shares in the company, valued at approximately $1,605,973.04. This represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.50% of the company's stock.
Castle Biosciences Company Profile
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Free Report)
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.
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