Kornitzer Capital Management Inc. KS Sells 105,660 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 27.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 278,314 shares of the company's stock after selling 105,660 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.96% of Castle Biosciences worth $5,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Castle Biosciences by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company's stock worth $48,837,000 after acquiring an additional 83,783 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Castle Biosciences by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company's stock worth $29,387,000 after buying an additional 32,208 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Castle Biosciences by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after buying an additional 134,645 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Castle Biosciences during the fourth quarter worth about $19,244,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Castle Biosciences by 39.9% in the fourth quarter. Renaissance Technologies LLC now owns 685,000 shares of the company's stock worth $18,255,000 after acquiring an additional 195,438 shares during the period. 92.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $21.52, for a total value of $26,598.72. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.50% of the company's stock.

Castle Biosciences Stock Down 4.9%

Shares of NASDAQ CSTL traded down $0.85 during midday trading on Friday, hitting $16.54. 463,655 shares of the stock traded hands, compared to its average volume of 420,520. The company has a debt-to-equity ratio of 0.02, a quick ratio of 9.19 and a current ratio of 9.37. Castle Biosciences, Inc. has a one year low of $15.45 and a one year high of $35.84. The business has a 50 day moving average price of $18.09 and a two-hundred day moving average price of $21.45. The company has a market cap of $477.51 million, a PE ratio of -87.05 and a beta of 1.10.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted its 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). Castle Biosciences had a negative net margin of 1.46% and a positive return on equity of 3.41%. The company had revenue of $87.99 million during the quarter, compared to the consensus estimate of $80.40 million. On average, equities analysts predict that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Castle Biosciences 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.