Nuveen Asset Management LLC Cuts Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Nuveen Asset Management LLC lowered its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 465,526 shares of the company's stock after selling 77,067 shares during the quarter. Nuveen Asset Management LLC owned about 1.66% of Castle Biosciences worth $12,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its position in shares of Castle Biosciences by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,939 shares of the company's stock worth $158,000 after acquiring an additional 604 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Castle Biosciences by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,786 shares of the company's stock worth $394,000 after acquiring an additional 608 shares in the last quarter. Invesco Ltd. boosted its stake in Castle Biosciences by 2.3% during the fourth quarter. Invesco Ltd. now owns 27,534 shares of the company's stock worth $734,000 after acquiring an additional 616 shares in the last quarter. Truist Financial Corp increased its stake in shares of Castle Biosciences by 4.6% during the fourth quarter. Truist Financial Corp now owns 21,303 shares of the company's stock valued at $568,000 after purchasing an additional 928 shares in the last quarter. Finally, Covestor Ltd bought a new position in shares of Castle Biosciences during the fourth quarter valued at approximately $25,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 2,130 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $19.52, for a total value of $41,577.60. Following the completion of the sale, the insider now owns 78,335 shares in the company, valued at $1,529,099.20. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 27,454 shares of company stock valued at $553,030. 6.50% of the stock is owned by company insiders.

Castle Biosciences Stock Performance

Shares of Castle Biosciences stock traded up $0.02 during trading hours on Friday, reaching $15.97. 208,211 shares of the stock traded hands, compared to its average volume of 452,409. Castle Biosciences, Inc. has a one year low of $15.45 and a one year high of $35.84. The firm has a market capitalization of $460.94 million, a price-to-earnings ratio of 79.85 and a beta of 1.19. 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 company has a 50 day moving average price of $18.78 and a 200 day moving average price of $24.05.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) 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 business had revenue of $87.99 million for the quarter, compared to the consensus estimate of $80.40 million. On average, equities research analysts expect that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Guggenheim set a $30.00 price objective on Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Canaccord Genuity Group reduced their price objective 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. Scotiabank reduced 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. Robert W. Baird increased their target price on Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Finally, Lake Street Capital lowered their price target on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $37.00.

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.