Hussman Strategic Advisors Inc. Cuts Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Hussman Strategic Advisors Inc. cut its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 71.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,000 shares of the company's stock after selling 52,500 shares during the quarter. Hussman Strategic Advisors Inc. owned 0.07% of Castle Biosciences worth $420,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new position in shares of Castle Biosciences in the 1st quarter worth about $1,143,000. CWM LLC grew its holdings in shares of Castle Biosciences by 835.0% in the 1st quarter. CWM LLC now owns 4,142 shares of the company's stock worth $83,000 after acquiring an additional 3,699 shares during the last quarter. Diversify Wealth Management LLC boosted its position in Castle Biosciences by 5.8% during the first quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company's stock valued at $260,000 after purchasing an additional 717 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Castle Biosciences in the first quarter worth about $423,000. Finally, Principal Financial Group Inc. increased its stake in shares of Castle Biosciences by 2.2% in the first quarter. Principal Financial Group Inc. now owns 1,467,873 shares of the company's stock worth $29,387,000 after purchasing an additional 32,208 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded down $0.85 during trading on Friday, hitting $16.54. 463,655 shares of the stock traded hands, compared to its average volume of 420,528. The company has a market cap of $477.54 million, a price-to-earnings ratio of -87.05 and a beta of 1.10. The company has a fifty day moving average price of $18.09 and a two-hundred day moving average price of $21.42. 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, Inc. has a 52-week low of $15.45 and a 52-week high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last posted 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 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, equities analysts predict that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CSTL shares. 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. Scotiabank lowered their target price on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating on the stock in a report on Wednesday, May 21st. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Canaccord Genuity Group decreased their price target on shares of Castle Biosciences from $42.00 to $37.00 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 MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $37.00.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of Castle Biosciences stock in a transaction dated 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 sale, the insider owned 74,627 shares in the company, valued at approximately $1,605,973.04. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.50% of the stock is currently owned by corporate insiders.

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.