Cubist Systematic Strategies LLC Decreases Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

Cubist Systematic Strategies LLC decreased its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,537 shares of the company’s stock after selling 13,033 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.63% of Castle Biosciences worth $4,731,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Castle Biosciences by 165.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock valued at $1,980,000 after purchasing an additional 43,241 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Castle Biosciences by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,538,520 shares of the company’s stock worth $43,879,000 after buying an additional 40,377 shares during the last quarter. Barclays PLC lifted its stake in Castle Biosciences by 310.7% in the 3rd quarter. Barclays PLC now owns 52,301 shares of the company’s stock valued at $1,491,000 after buying an additional 39,567 shares in the last quarter. Truist Financial Corp grew its holdings in Castle Biosciences by 4.6% during the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock valued at $568,000 after buying an additional 928 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Castle Biosciences by 15.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 999,466 shares of the company’s stock worth $26,636,000 after buying an additional 134,645 shares in the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CSTL. Lake Street Capital decreased their price objective on Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday. Canaccord Genuity Group decreased their price target on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Finally, Guggenheim set a $30.00 target price on shares of Castle Biosciences and gave the stock a “buy” rating in a research report on Friday, March 28th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $37.50.

Castle Biosciences Price Performance

CSTL opened at $16.79 on Friday. Castle Biosciences, Inc. has a 1 year low of $15.70 and a 1 year high of $35.84. The company’s 50 day simple moving average is $19.83 and its 200 day simple moving average is $25.66. The stock has a market capitalization of $484.76 million, a PE ratio of 83.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78.

Castle Biosciences (NASDAQ:CSTL) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The company had revenue of $87.99 million during the quarter, compared to analyst estimates of $80.40 million. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. As a group, sell-side analysts expect that Castle Biosciences, Inc. will post 0.44 EPS for the current year.

Insider Buying and Selling at Castle Biosciences

In other news, insider Derek J. Maetzold sold 2,130 shares of Castle Biosciences stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $19.52, for a total value of $41,577.60. Following the transaction, the insider now directly owns 78,335 shares of the company’s stock, valued at $1,529,099.20. The trade was a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders sold 27,454 shares of company stock valued at $553,030. Company insiders own 6.50% 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.