Granahan Investment Management LLC Sells 314,396 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Granahan Investment Management LLC trimmed its position in shares of Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 73.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,824 shares of the company's stock after selling 314,396 shares during the period. Granahan Investment Management LLC owned approximately 0.40% of Castle Biosciences worth $2,953,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Castle Biosciences by 165.2% in the third quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company's stock worth $1,980,000 after acquiring an additional 43,241 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Castle Biosciences by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company's stock valued at $43,879,000 after buying an additional 40,377 shares during the last quarter. Barclays PLC raised its holdings in Castle Biosciences by 310.7% in the 3rd quarter. Barclays PLC now owns 52,301 shares of the company's stock valued at $1,491,000 after buying an additional 39,567 shares during the last quarter. Truist Financial Corp raised its holdings in Castle Biosciences by 4.6% in the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company's stock valued at $568,000 after buying an additional 928 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Castle Biosciences by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company's stock valued at $26,636,000 after buying an additional 134,645 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Castle Biosciences Stock Performance

CSTL traded down $0.71 during trading on Wednesday, hitting $16.32. 439,544 shares of the company traded hands, compared to its average volume of 404,308. The firm has a market cap of $471.19 million, a P/E ratio of 81.60 and a beta of 1.19. The stock's fifty day moving average is $19.67 and its 200 day moving average is $25.41. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. Castle Biosciences, Inc. has a one year low of $15.70 and a one year high of $35.84.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The business had revenue of $87.99 million for the quarter, compared to analysts' expectations of $80.40 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. As a group, equities analysts predict that Castle Biosciences, Inc. will post 0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a "buy" rating in a report on Friday, March 28th. Canaccord Genuity Group lowered 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. Robert W. Baird lifted their price target on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Finally, Lake Street Capital reduced 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $37.50.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 22,639 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $20.12, for a total value of $455,496.68. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 27,454 shares of company stock valued at $553,030 over the last three months. 7.20% of the stock is currently owned by 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.