First Horizon Advisors Inc. Cuts Stock Position in Castle Biosciences, Inc. (NASDAQ:CSTL)

First Horizon Advisors Inc. decreased its position in Castle Biosciences, Inc. (NASDAQ:CSTL) by 73.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,070 shares of the company’s stock after selling 5,783 shares during the quarter. First Horizon Advisors Inc.’s holdings in Castle Biosciences were worth $59,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new position in Castle Biosciences during the 1st quarter valued at $249,000. Vanguard Group Inc. grew its holdings in shares of Castle Biosciences by 2.2% in the first quarter. Vanguard Group Inc. now owns 1,494,176 shares of the company’s stock worth $33,096,000 after acquiring an additional 32,695 shares during the period. Price T Rowe Associates Inc. MD increased its position in Castle Biosciences by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock valued at $400,000 after acquiring an additional 1,131 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Castle Biosciences by 249.3% in the second quarter. Harbor Capital Advisors Inc. now owns 138,707 shares of the company’s stock valued at $3,020,000 after acquiring an additional 99,001 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Castle Biosciences during the 2nd quarter valued at about $588,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Frank Stokes sold 6,923 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $29.93, for a total transaction of $207,205.39. Following the completion of the transaction, the chief financial officer now directly owns 30,823 shares of the company’s stock, valued at $922,532.39. The trade was a 18.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Derek J. Maetzold sold 986 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.73, for a total transaction of $28,327.78. Following the completion of the transaction, the insider now owns 94,622 shares in the company, valued at $2,718,490.06. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,213 shares of company stock worth $752,673. 7.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on CSTL shares. Scotiabank increased their price objective on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. KeyCorp raised their price target on Castle Biosciences from $28.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. BTIG Research raised their price objective on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Robert W. Baird upped their price objective on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Stephens reiterated an “overweight” rating and set a $37.00 price objective on shares of Castle Biosciences in a report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences presently has a consensus rating of “Buy” and an average price target of $37.88.

Castle Biosciences Stock Up 3.2 %

Shares of CSTL opened at $29.81 on Monday. The company has a market capitalization of $834.98 million, a price-to-earnings ratio of 149.06 and a beta of 0.99. Castle Biosciences, Inc. has a 52 week low of $16.97 and a 52 week high of $35.84. The stock’s 50-day moving average price is $30.98 and its 200-day moving average price is $26.50. 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 issued its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The business had revenue of $85.78 million during the quarter, compared to the consensus estimate of $78.55 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. On average, sell-side analysts predict that Castle Biosciences, Inc. will post -0.08 EPS 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.