Select Equity Group L.P. Invests $24.65 Million in Castle Biosciences, Inc. (NASDAQ:CSTL)

Select Equity Group L.P. purchased a new position in Castle Biosciences, Inc. (NASDAQ:CSTL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 360,085 shares of the company’s stock, valued at approximately $24,651,000.

Several other hedge funds also recently made changes to their positions in the company. State of Wisconsin Investment Board grew its stake in shares of Castle Biosciences by 29.9% in the first quarter. State of Wisconsin Investment Board now owns 21,300 shares of the company’s stock worth $1,458,000 after acquiring an additional 4,900 shares during the period. Morgan Stanley grew its stake in shares of Castle Biosciences by 78.7% in the first quarter. Morgan Stanley now owns 136,418 shares of the company’s stock worth $9,339,000 after acquiring an additional 60,086 shares during the period. Tudor Investment Corp Et Al bought a new stake in Castle Biosciences during the first quarter valued at approximately $212,000. Cubist Systematic Strategies LLC grew its position in Castle Biosciences by 96.9% during the first quarter. Cubist Systematic Strategies LLC now owns 9,101 shares of the company’s stock valued at $623,000 after buying an additional 4,478 shares during the period. Finally, California State Teachers Retirement System grew its position in Castle Biosciences by 22.8% during the first quarter. California State Teachers Retirement System now owns 21,972 shares of the company’s stock valued at $1,504,000 after buying an additional 4,073 shares during the period. Hedge funds and other institutional investors own 84.97% of the company’s stock.

In other news, insider Derek J. Maetzold sold 14,374 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $69.17, for a total value of $994,249.58. Following the transaction, the insider now owns 602,541 shares of the company’s stock, valued at $41,677,760.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tobin W. Juvenal sold 10,000 shares of the business’s stock in a transaction on Thursday, June 17th. The stock was sold at an average price of $75.40, for a total transaction of $754,000.00. Following the completion of the transaction, the insider now directly owns 8,090 shares in the company, valued at approximately $609,986. The disclosure for this sale can be found here. Insiders sold 153,141 shares of company stock worth $10,761,585 in the last three months. Insiders own 39.70% of the company’s stock.

Several analysts recently issued reports on the stock. Robert W. Baird restated a “buy” rating and set a $73.00 target price on shares of Castle Biosciences in a research report on Thursday, May 13th. Lake Street Capital assumed coverage on shares of Castle Biosciences in a research report on Friday, April 30th. They set a “buy” rating and a $94.00 target price for the company. Zacks Investment Research upgraded shares of Castle Biosciences from a “sell” rating to a “hold” rating in a research report on Monday, May 10th. Finally, SVB Leerink boosted their target price on shares of Castle Biosciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, July 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $81.00.

NASDAQ:CSTL traded up $0.01 during trading hours on Thursday, hitting $68.74. 1,088 shares of the stock traded hands, compared to its average volume of 238,015. Castle Biosciences, Inc. has a 1 year low of $36.15 and a 1 year high of $107.69. The stock has a market capitalization of $1.72 billion, a P/E ratio of -96.80 and a beta of 0.43. The firm has a 50 day moving average of $67.03.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings results on Sunday, May 9th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.06. Castle Biosciences had a negative net margin of 22.24% and a negative return on equity of 4.74%. The business had revenue of $22.81 million for the quarter, compared to the consensus estimate of $16.66 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.9% on a year-over-year basis. Equities research analysts anticipate that Castle Biosciences, Inc. will post -1 earnings per share for the current year.

Castle Biosciences Company Profile

Castle Biosciences, Inc, a commercial-stage dermatological cancer company, focuses to provide diagnostic and prognostic solutions for dermatological cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify high-risk patients with stage I and II melanomas based on biological information from 31 genes within their tumor tissue.

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Institutional Ownership by Quarter for Castle Biosciences (NASDAQ:CSTL)

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