Millennium Management LLC Has $14.63 Million Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Millennium Management LLC raised its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 290.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 548,809 shares of the company's stock after buying an additional 408,272 shares during the period. Millennium Management LLC owned approximately 1.96% of Castle Biosciences worth $14,626,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew 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 purchasing an additional 83,783 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Castle Biosciences by 15.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock worth $26,636,000 after acquiring an additional 134,645 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Castle Biosciences during the fourth quarter worth approximately $19,244,000. Renaissance Technologies LLC boosted its position in Castle Biosciences by 39.9% during 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 last quarter. Finally, Geode Capital Management LLC boosted its position in Castle Biosciences by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 628,196 shares of the company's stock worth $16,746,000 after acquiring an additional 3,513 shares during the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 22,639 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $20.12, for a total transaction of $455,496.68. Following the completion of the sale, the insider now directly owns 80,465 shares of the company's stock, valued at approximately $1,618,955.80. This represents a 21.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 27,454 shares of company stock valued at $553,030. Company insiders own 6.50% of the company's stock.

Analyst Ratings Changes

CSTL has been the topic of a number of analyst reports. Robert W. Baird raised their target price on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the stock a "buy" rating in a research note on Friday, March 28th. Lake Street Capital cut their price target on shares of Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group cut their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Scotiabank cut their price target 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences presently has an average rating of "Buy" and an average price target of $37.00.

Castle Biosciences Trading Down 1.8%

Shares of CSTL stock traded down $0.29 during trading hours on Wednesday, reaching $15.51. 35,828 shares of the stock traded hands, compared to its average volume of 406,030. Castle Biosciences, Inc. has a 1-year low of $15.50 and a 1-year high of $35.84. The business has a fifty day moving average price of $18.97 and a 200 day moving average price of $24.23. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $447.80 million, a PE ratio of 78.02 and a beta of 1.19.

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). Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The company had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. On average, equities research analysts forecast that Castle Biosciences, Inc. will post 0.44 EPS for the current 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.