Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 51.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,317 shares of the company's stock after selling 18,142 shares during the period. Squarepoint Ops LLC owned 0.06% of Castle Biosciences worth $461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CSTL. Truist Financial Corp increased its holdings in shares of Castle Biosciences by 4.6% during the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company's stock worth $568,000 after buying an additional 928 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Castle Biosciences by 2.8% during the 4th quarter. New York State Common Retirement Fund now owns 189,101 shares of the company's stock worth $5,040,000 after purchasing an additional 5,170 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Castle Biosciences during the fourth quarter valued at about $1,959,000. Bank of New York Mellon Corp raised its position in Castle Biosciences by 10.3% in the fourth quarter. Bank of New York Mellon Corp now owns 84,459 shares of the company's stock valued at $2,251,000 after purchasing an additional 7,881 shares during the period. Finally, Bailard Inc. raised its holdings in shares of Castle Biosciences by 12.5% in the 4th quarter. Bailard Inc. now owns 9,900 shares of the company's stock valued at $264,000 after buying an additional 1,100 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSTL has been the topic of a number of research reports. Canaccord Genuity Group reduced their target price on shares of Castle Biosciences from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Guggenheim set a $30.00 price target on Castle Biosciences and gave the company a "buy" rating in a research report on Friday, March 28th. Scotiabank lowered their price objective on 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 cut their target price 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. Finally, Robert W. Baird lifted their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $37.00.

Castle Biosciences Stock Up 3.4%

Shares of CSTL traded up $0.58 during mid-day trading on Friday, reaching $17.60. The company's stock had a trading volume of 560,182 shares, compared to its average volume of 414,755. 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. The stock has a market cap of $508.15 million, a PE ratio of 88.00 and a beta of 1.03. The company's 50 day moving average is $18.38 and its 200 day moving average is $23.43.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. Equities analysts anticipate that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total transaction of $25,090.80. Following the transaction, the insider now owns 77,099 shares of the company's stock, valued at approximately $1,565,109.70. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,815 shares of company stock worth $97,534 in the last ninety days. 6.50% of the stock is owned by corporate insiders.

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.