Schonfeld Strategic Advisors LLC Has $408,000 Stock Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Schonfeld Strategic Advisors LLC trimmed its position in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 72.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,300 shares of the company's stock after selling 40,700 shares during the period. Schonfeld Strategic Advisors LLC owned 0.05% of Castle Biosciences worth $408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSTL. China Universal Asset Management Co. Ltd. grew 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. Invesco Ltd. lifted 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 purchasing an additional 616 shares during the last quarter. Truist Financial Corp boosted its holdings in Castle Biosciences by 4.6% in the fourth quarter. Truist Financial Corp now owns 21,303 shares of the company's stock worth $568,000 after purchasing an additional 928 shares during the period. Covestor Ltd bought a new stake in Castle Biosciences during the fourth quarter valued at $25,000. Finally, Bailard Inc. increased its stake in Castle Biosciences by 12.5% during the fourth quarter. Bailard Inc. now owns 9,900 shares of the company's stock valued at $264,000 after purchasing an additional 1,100 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Castle Biosciences

In related news, insider Derek J. Maetzold sold 1,236 shares of the firm's 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 completion of the transaction, the insider now owns 74,627 shares of the company's stock, valued at $1,605,973.04. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 27,454 shares of company stock valued at $553,030. Company insiders own 7.20% of the company's stock.

Castle Biosciences Stock Performance

Shares of NASDAQ:CSTL traded down $0.71 during trading hours on Wednesday, hitting $16.32. The stock had a trading volume of 439,544 shares, compared to its average volume of 403,580. 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's fifty day simple moving average is $19.67 and its 200 day simple moving average is $25.41. The firm has a market capitalization of $471.19 million, a price-to-earnings ratio of 81.60 and a beta of 1.19. Castle Biosciences, Inc. has a 1-year low of $15.70 and a 1-year high of $35.84.

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). The business had revenue of $87.99 million for the quarter, compared to analyst estimates of $80.40 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. Sell-side analysts anticipate that Castle Biosciences, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CSTL shares. Robert W. Baird boosted their price objective 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. Guggenheim set a $30.00 target price on Castle Biosciences and gave the company a "buy" rating in a report on Friday, March 28th. Lake Street Capital dropped their price target on Castle Biosciences from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group reduced their price objective on Castle Biosciences from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $37.50.

Castle Biosciences Company 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.