Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP lifted its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 116.5% in the second quarter, Holdings Channel reports. The firm owned 212,036 shares of the company’s stock after buying an additional 114,104 shares during the period. Marshall Wace LLP’s holdings in Castle Biosciences were worth $4,616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Intrinsic Edge Capital Management LLC increased its holdings in shares of Castle Biosciences by 108.8% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 326,270 shares of the company’s stock valued at $7,041,000 after acquiring an additional 170,000 shares in the last quarter. Bellevue Group AG increased its stake in Castle Biosciences by 0.4% during the 4th quarter. Bellevue Group AG now owns 1,232,378 shares of the company’s stock valued at $26,595,000 after purchasing an additional 4,347 shares in the last quarter. Birchview Capital LP purchased a new position in shares of Castle Biosciences in the fourth quarter worth $216,000. Parkman Healthcare Partners LLC lifted its stake in shares of Castle Biosciences by 59.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 357,156 shares of the company’s stock worth $7,707,000 after buying an additional 132,564 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Castle Biosciences by 89.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,862 shares of the company’s stock valued at $241,000 after buying an additional 5,123 shares during the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, COO Kristen M. Oelschlager sold 2,793 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $22.06, for a total transaction of $61,613.58. Following the transaction, the chief operating officer now owns 145,825 shares in the company, valued at $3,216,899.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Castle Biosciences news, COO Kristen M. Oelschlager sold 2,793 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $22.06, for a total transaction of $61,613.58. Following the completion of the transaction, the chief operating officer now directly owns 145,825 shares in the company, valued at $3,216,899.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Bradbury sold 7,883 shares of Castle Biosciences stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $26.65, for a total transaction of $210,081.95. Following the completion of the sale, the director now owns 8,550 shares in the company, valued at approximately $227,857.50. The disclosure for this sale can be found here. Insiders sold a total of 33,665 shares of company stock worth $828,222 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSTL. Robert W. Baird lifted their price target on Castle Biosciences from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $37.00 target price on shares of Castle Biosciences in a report on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $32.80.

Castle Biosciences Trading Down 1.5 %

Castle Biosciences stock opened at $28.09 on Wednesday. The company has a current ratio of 8.12, a quick ratio of 7.92 and a debt-to-equity ratio of 0.02. The firm has a market cap of $775.48 million, a PE ratio of -24.43 and a beta of 1.02. The stock’s 50 day simple moving average is $27.57 and its two-hundred day simple moving average is $23.71. Castle Biosciences, Inc. has a 12 month low of $12.07 and a 12 month high of $32.53.

Castle Biosciences (NASDAQ:CSTL) last released its quarterly earnings results on Monday, August 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.47. The company had revenue of $87.00 million for the quarter, compared to analyst estimates of $69.95 million. Castle Biosciences had a negative net margin of 1.08% and a negative return on equity of 0.77%. During the same quarter last year, the business earned ($0.70) earnings per share. Analysts anticipate that Castle Biosciences, Inc. will post -0.58 earnings per share for the current year.

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.