Wasatch Advisors LP Lowers Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

Wasatch Advisors LP lessened its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL - Free Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,796,088 shares of the company's stock after selling 30,004 shares during the period. Wasatch Advisors LP owned approximately 6.41% of Castle Biosciences worth $47,866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CSTL. Wellington Management Group LLP acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at approximately $19,244,000. Renaissance Technologies LLC lifted its holdings in shares of Castle Biosciences by 39.9% during the 4th quarter. Renaissance Technologies LLC now owns 685,000 shares of the company's stock valued at $18,255,000 after purchasing an additional 195,438 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Castle Biosciences by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 1,832,535 shares of the company's stock worth $48,837,000 after acquiring an additional 83,783 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in Castle Biosciences during the 4th quarter worth about $1,959,000. Finally, State Street Corp raised its stake in shares of Castle Biosciences by 9.8% in the 3rd quarter. State Street Corp now owns 680,001 shares of the company's stock valued at $19,394,000 after purchasing an additional 60,924 shares during the period. Institutional investors own 92.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CSTL shares. Guggenheim set a $30.00 price target on shares of Castle Biosciences and gave the stock a "buy" rating in a research report on Friday, March 28th. Stephens reiterated an "overweight" rating and issued a $41.00 target price on shares of Castle Biosciences in a research note on Thursday, January 2nd. Finally, Robert W. Baird boosted their target price on Castle Biosciences from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $38.75.

Castle Biosciences Price Performance

Shares of CSTL traded up $0.07 during midday trading on Monday, hitting $21.58. The company's stock had a trading volume of 208,225 shares, compared to its average volume of 382,725. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $622.48 million, a price-to-earnings ratio of 107.91 and a beta of 1.11. Castle Biosciences, Inc. has a one year low of $16.97 and a one year high of $35.84. The company's fifty day simple moving average is $21.66 and its two-hundred day simple moving average is $26.84.

Insider Activity

In other Castle Biosciences news, Director Daniel Bradbury sold 7,867 shares of Castle Biosciences stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $28.17, for a total transaction of $221,613.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 1,236 shares of Castle Biosciences stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $20.30, for a total value of $25,090.80. Following the completion of the transaction, the insider now directly owns 77,099 shares in the company, valued at approximately $1,565,109.70. This represents a 1.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,085 shares of company stock worth $748,045. Insiders own 7.20% of the company's stock.

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.