Jackson Creek Investment Advisors LLC Acquires New Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Jackson Creek Investment Advisors LLC acquired a new stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 57,094 shares of the company's stock, valued at approximately $1,143,000. Jackson Creek Investment Advisors LLC owned approximately 0.20% of Castle Biosciences as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in shares of Castle Biosciences in the fourth quarter worth $19,244,000. Millennium Management LLC raised its holdings 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 valued at $14,626,000 after buying an additional 408,272 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Castle Biosciences in the fourth quarter valued at about $6,639,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Castle Biosciences by 2,070.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 217,794 shares of the company's stock valued at $4,360,000 after buying an additional 207,761 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Castle Biosciences by 2,567.5% during the 4th quarter. Captrust Financial Advisors now owns 215,322 shares of the company's stock worth $5,738,000 after purchasing an additional 207,250 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company's stock.

Insiders Place Their Bets

In other 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 sale, the insider directly owned 74,627 shares of the company's stock, valued at approximately $1,605,973.04. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Guggenheim set a $30.00 price target on Castle Biosciences and gave the company a "buy" rating in a research note on Friday, March 28th. Lake Street Capital cut their price objective 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 dropped their price target on 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. Finally, Canaccord Genuity Group lowered their price objective on 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 research analysts have rated the stock with a buy rating, According to MarketBeat, Castle Biosciences presently has a consensus rating of "Buy" and an average target price of $37.00.

Castle Biosciences Price Performance

Shares of NASDAQ CSTL traded down $0.26 during mid-day trading on Friday, reaching $17.13. The company had a trading volume of 54,709 shares, compared to its average volume of 418,622. The business's 50-day simple moving average is $18.09 and its 200 day simple moving average is $21.52. The firm has a market cap of $494.46 million, a price-to-earnings ratio of -89.63 and a beta of 1.10. 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.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data 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 business 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%. On average, research analysts predict that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

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.

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