Point72 Asset Management L.P. Acquires 47,912 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Point72 Asset Management L.P. increased its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 9.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 547,104 shares of the company's stock after buying an additional 47,912 shares during the quarter. Point72 Asset Management L.P. owned 1.95% of Castle Biosciences worth $14,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of Castle Biosciences by 87.3% during the third quarter. Franklin Resources Inc. now owns 69,382 shares of the company's stock worth $1,979,000 after acquiring an additional 32,344 shares in the last quarter. JPMorgan Chase & Co. raised its position in Castle Biosciences by 165.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company's stock worth $1,980,000 after purchasing an additional 43,241 shares during the period. Inspire Investing LLC raised its position in Castle Biosciences by 7.6% in the 4th quarter. Inspire Investing LLC now owns 45,750 shares of the company's stock worth $1,219,000 after purchasing an additional 3,234 shares during the period. R Squared Ltd bought a new stake in Castle Biosciences in the fourth quarter worth $42,000. Finally, Oak Harvest Investment Services purchased a new stake in Castle Biosciences during the fourth quarter valued at about $206,000. Institutional investors own 92.60% of the company's stock.

Castle Biosciences Trading Up 1.0%

Shares of Castle Biosciences stock traded up $0.16 during midday trading on Friday, reaching $16.05. 65,369 shares of the company's stock traded hands, compared to its average volume of 404,447. The stock has a 50 day moving average of $19.23 and a 200-day moving average of $24.63. Castle Biosciences, Inc. has a 12 month low of $15.66 and a 12 month high of $35.84. The company has a market cap of $463.40 million, a PE ratio of 80.35 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $80.40 million. As a group, equities analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CSTL shares. Canaccord Genuity Group decreased their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird boosted their price objective on Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Guggenheim set a $30.00 price objective on Castle Biosciences and gave the company a "buy" rating in a research note on Friday, March 28th. Scotiabank decreased 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. Finally, 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $37.00.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 1,236 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $21.52, for a total value of $26,598.72. Following the completion of the transaction, the insider now owns 74,627 shares in the company, valued at $1,605,973.04. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 27,454 shares of company stock valued at $553,030 over the last three months. Corporate insiders own 6.50% of the company's stock.

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.