UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Castle Biosciences, Inc. (NASDAQ:CSTL – Free Report) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 55,532 shares of the company’s stock after selling 604 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Castle Biosciences were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Algert Global LLC lifted its holdings in Castle Biosciences by 0.4% in the third quarter. Algert Global LLC now owns 134,321 shares of the company’s stock valued at $3,831,000 after acquiring an additional 599 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Castle Biosciences by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock valued at $220,000 after acquiring an additional 675 shares during the period. Assetmark Inc. lifted its holdings in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock valued at $149,000 after acquiring an additional 748 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Castle Biosciences by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after acquiring an additional 952 shares during the period. Finally, Quest Partners LLC lifted its holdings in Castle Biosciences by 54.4% in the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CSTL has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their price target on Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. KeyCorp lifted their price objective on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Scotiabank lifted their price objective on Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, November 6th. Lake Street Capital lifted their price objective on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird lifted their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Castle Biosciences has an average rating of “Buy” and an average price target of $39.71.
Castle Biosciences Price Performance
Shares of CSTL opened at $28.80 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.78 and a quick ratio of 7.64. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84. The stock has a fifty day moving average price of $31.28 and a 200 day moving average price of $27.17. The company has a market cap of $806.60 million, a P/E ratio of 144.00 and a beta of 0.92.
Castle Biosciences (NASDAQ:CSTL – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. On average, research analysts forecast that Castle Biosciences, Inc. will post 0.34 earnings per share for the current year.
Insider Activity at Castle Biosciences
In other news, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the completion of the sale, the director now directly owns 5,700 shares of the company’s stock, valued at $167,808. This trade represents a 57.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek J. Maetzold sold 1,972 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $31.35, for a total value of $61,822.20. Following the sale, the insider now directly owns 85,748 shares of the company’s stock, valued at $2,688,199.80. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,185 shares of company stock worth $814,495 in the last quarter. 7.20% of the stock is owned by company insiders.
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.
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