Mackenzie Financial Corp Invests $560,000 in Castle Biosciences, Inc. (NASDAQ:CSTL)

Mackenzie Financial Corp acquired a new position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,020 shares of the company's stock, valued at approximately $560,000. Mackenzie Financial Corp owned about 0.08% of Castle Biosciences as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CSTL. Vanguard Group Inc. raised its position in shares of Castle Biosciences by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company's stock valued at $48,837,000 after buying an additional 83,783 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Castle Biosciences by 15.6% in the fourth 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 in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at approximately $19,244,000. Renaissance Technologies LLC raised its position 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 valued at $18,255,000 after buying an additional 195,438 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Castle Biosciences by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 628,196 shares of the company's stock valued at $16,746,000 after buying an additional 3,513 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Robert W. Baird lifted their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Scotiabank dropped their price target on shares of Castle Biosciences from $44.00 to $40.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 21st. Lake Street Capital dropped their price target on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group dropped 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 report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $37.00.

Castle Biosciences Price Performance

NASDAQ:CSTL traded up $0.58 during mid-day trading on Friday, reaching $17.60. The stock had a trading volume of 560,182 shares, compared to its average volume of 414,083. The stock has a 50-day simple moving average of $18.38 and a two-hundred day simple moving average of $23.50. The stock has a market capitalization of $508.15 million, a PE ratio of 88.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences, Inc. has a 12 month low of $15.45 and a 12 month 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.12). The company had revenue of $87.99 million for the quarter, compared to the consensus estimate of $80.40 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. On average, equities analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Derek J. Maetzold sold 1,236 shares of Castle Biosciences stock in a transaction on Monday, April 21st. The shares were sold at an average price of $21.52, for a total transaction of $26,598.72. Following the transaction, the insider now owns 74,627 shares in the company, valued at approximately $1,605,973.04. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 4,815 shares of company stock valued at $97,534. 6.50% of the stock is currently owned by 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.