New York State Common Retirement Fund Decreases Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

New York State Common Retirement Fund lessened its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 13.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,159 shares of the company's stock after selling 25,942 shares during the quarter. New York State Common Retirement Fund owned 0.57% of Castle Biosciences worth $3,266,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CSTL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Castle Biosciences by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock valued at $394,000 after acquiring an additional 608 shares in the last quarter. Invesco Ltd. boosted its position in shares of Castle Biosciences by 2.3% during the 4th quarter. Invesco Ltd. now owns 27,534 shares of the company's stock valued at $734,000 after purchasing an additional 616 shares in the last quarter. Diversify Wealth Management LLC increased its position in shares of Castle Biosciences by 5.8% in the first quarter. Diversify Wealth Management LLC now owns 13,102 shares of the company's stock worth $260,000 after acquiring an additional 717 shares in the last quarter. Teacher Retirement System of Texas raised its position in Castle Biosciences by 9.6% during the first quarter. Teacher Retirement System of Texas now owns 10,383 shares of the company's stock valued at $208,000 after buying an additional 908 shares during the period. Finally, Covestor Ltd purchased a new stake in shares of Castle Biosciences in the fourth quarter worth approximately $25,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

Analysts Set New Price Targets

CSTL has been the subject of several recent analyst reports. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the stock a "buy" rating in a report on Friday, March 28th. Scotiabank reduced 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 research note on Wednesday, May 21st. Canaccord Genuity Group reduced their price objective 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, Lake Street Capital cut their price objective on shares of Castle Biosciences from $40.00 to $35.00 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, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $37.00.

Castle Biosciences Stock Performance

NASDAQ:CSTL traded down $0.36 during mid-day trading on Friday, reaching $16.07. 288,409 shares of the company's stock were exchanged, compared to its average volume of 409,083. 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. The business's fifty day simple moving average is $18.06 and its two-hundred day simple moving average is $20.94. The firm has a market capitalization of $463.94 million, a PE ratio of -84.58 and a beta of 1.10.

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). Castle Biosciences had a positive return on equity of 3.41% and a negative net margin of 1.46%. The company had revenue of $87.99 million for the quarter, compared to the consensus estimate of $80.40 million. Analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal 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.