Jacobs Levy Equity Management Inc. Sells 361,739 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Jacobs Levy Equity Management Inc. lessened its stake in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 72.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 134,782 shares of the company's stock after selling 361,739 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.48% of Castle Biosciences worth $3,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSTL. Graham Capital Management L.P. boosted its stake in Castle Biosciences by 165.9% during the 4th quarter. Graham Capital Management L.P. now owns 41,676 shares of the company's stock worth $1,111,000 after purchasing an additional 26,000 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Castle Biosciences during the 4th quarter worth $2,414,000. Deutsche Bank AG boosted its stake in Castle Biosciences by 12.5% during the 4th quarter. Deutsche Bank AG now owns 67,667 shares of the company's stock worth $1,803,000 after purchasing an additional 7,495 shares during the last quarter. Centiva Capital LP boosted its stake in Castle Biosciences by 18.8% during the 4th quarter. Centiva Capital LP now owns 23,015 shares of the company's stock worth $613,000 after purchasing an additional 3,647 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Castle Biosciences by 2,567.5% during the 4th quarter. Captrust Financial Advisors now owns 215,322 shares of the company's stock worth $5,738,000 after purchasing an additional 207,250 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

Insider Activity at Castle Biosciences

In other news, insider Derek J. Maetzold sold 1,236 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $21.52, for a total transaction of $26,598.72. Following the transaction, the insider now owns 74,627 shares of the company's stock, valued at approximately $1,605,973.04. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 27,454 shares of company stock valued at $553,030. Company insiders own 6.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CSTL shares. Robert W. Baird lifted their target price 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. Canaccord Genuity Group lowered their target price 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. Lake Street Capital lowered 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, Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the stock a "buy" rating in a research note on Friday, March 28th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $37.50.

Castle Biosciences Stock Performance

Shares of NASDAQ CSTL traded down $0.01 during trading on Tuesday, reaching $16.39. The stock had a trading volume of 33,556 shares, compared to its average volume of 404,311. Castle Biosciences, Inc. has a one year low of $15.70 and a one year high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The stock has a market cap of $473.10 million, a PE ratio of 82.04 and a beta of 1.19. The firm's 50 day moving average price is $19.42 and its two-hundred day moving average price is $24.87.

Castle Biosciences (NASDAQ:CSTL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share 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 firm had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. On average, research analysts forecast 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.