Cerity Partners LLC Buys Shares of 21,138 Castle Biosciences, Inc. (NASDAQ:CSTL)

Cerity Partners LLC bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,138 shares of the company's stock, valued at approximately $423,000. Cerity Partners LLC owned approximately 0.07% of Castle Biosciences as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in Castle Biosciences by 2,070.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 217,794 shares of the company's stock worth $4,360,000 after buying an additional 207,761 shares during the last quarter. ProShare Advisors LLC purchased a new position in Castle Biosciences in the 4th quarter worth about $230,000. Deutsche Bank AG increased its stake in Castle Biosciences by 12.5% in 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 in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Castle Biosciences during the 4th quarter valued at about $2,414,000. Finally, Man Group plc purchased a new position in Castle Biosciences during the 4th quarter valued at about $354,000. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSTL shares. Canaccord Genuity Group reduced 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. 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. Finally, Lake Street Capital dropped their price objective on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $37.00.

Castle Biosciences Price Performance

Castle Biosciences stock opened at $16.07 on Friday. The business's 50-day simple moving average is $18.06 and its 200 day simple moving average is $20.94. The stock has a market cap of $463.94 million, a price-to-earnings ratio of -84.58 and a beta of 1.10. Castle Biosciences, Inc. has a 12-month low of $15.45 and a 12-month high of $35.84. The company has a quick ratio of 9.19, a current ratio of 9.37 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its earnings results 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). The company had revenue of $87.99 million during the quarter, compared to analyst estimates 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, research analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share 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.

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