Townsquare Capital LLC Acquires 4,688 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Townsquare Capital LLC grew its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 25.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,270 shares of the company’s stock after acquiring an additional 4,688 shares during the period. Townsquare Capital LLC owned 0.08% of Castle Biosciences worth $664,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC increased its position in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after buying an additional 1,522 shares during the period. US Bancorp DE increased its holdings in Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock worth $132,000 after acquiring an additional 4,383 shares during the period. Assetmark Inc. increased its holdings in Castle Biosciences by 16.8% during the 3rd quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after acquiring an additional 748 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Castle Biosciences by 64.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after purchasing an additional 2,093 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Castle Biosciences in the 3rd quarter valued at $236,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 986 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the transaction, the insider now directly owns 94,622 shares of the company’s stock, valued at approximately $2,718,490.06. The trade was a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tobin W. Juvenal sold 3,507 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the completion of the sale, the insider now directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,213 shares of company stock worth $752,673. 7.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CSTL has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Scotiabank raised their price target on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Robert W. Baird boosted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. BTIG Research raised their target price on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Canaccord Genuity Group increased their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $37.88.

Castle Biosciences Stock Performance

NASDAQ CSTL opened at $30.78 on Wednesday. The company has a 50-day simple moving average of $30.98 and a two-hundred day simple moving average of $26.81. Castle Biosciences, Inc. has a 12-month low of $16.97 and a 12-month high of $35.84. The firm has a market cap of $862.15 million, a price-to-earnings ratio of 153.91 and a beta of 0.92. 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 (NASDAQ:CSTL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The firm had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. On average, equities analysts forecast that Castle Biosciences, Inc. will post -0.08 EPS for the current 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.