Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Castle Biosciences, Inc. (NASDAQ:CSTL) by 4.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,476 shares of the company’s stock after selling 406 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Castle Biosciences were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall Wace LLP increased its holdings in Castle Biosciences by 116.5% in the second quarter. Marshall Wace LLP now owns 212,036 shares of the company’s stock valued at $4,616,000 after buying an additional 114,104 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Castle Biosciences by 147.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after purchasing an additional 98,571 shares in the last quarter. Renaissance Technologies LLC boosted its position in Castle Biosciences by 47.3% during the second quarter. Renaissance Technologies LLC now owns 301,500 shares of the company’s stock worth $6,564,000 after purchasing an additional 96,800 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in Castle Biosciences in the second quarter valued at approximately $2,102,000. Finally, Acadian Asset Management LLC increased its position in shares of Castle Biosciences by 33.0% in the second quarter. Acadian Asset Management LLC now owns 280,497 shares of the company’s stock valued at $6,101,000 after buying an additional 69,673 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CSTL. Lake Street Capital boosted their price target on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. KeyCorp upped their price target on shares of 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 report on Wednesday, November 6th. Robert W. Baird increased their target price on Castle Biosciences from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, BTIG Research lifted their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eight investment 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 target price of $37.88.

Castle Biosciences Trading Down 3.0 %

Shares of NASDAQ CSTL opened at $31.19 on Monday. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $31.19 and a 200-day simple moving average of $26.95. The stock has a market capitalization of $873.63 million, a PE ratio of 155.96 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last released its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The firm had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. During the same period last year, the business posted ($0.26) earnings per share. On average, equities analysts forecast that Castle Biosciences, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Castle Biosciences

In other Castle Biosciences news, CFO Frank Stokes sold 6,923 shares of Castle Biosciences stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $35.56, for a total value of $124,708.92. Following the sale, the insider now directly owns 54,178 shares of the company’s stock, valued at $1,926,569.68. This trade represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,213 shares of company stock worth $752,673. Company insiders own 7.20% of the company’s stock.

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.