Point72 Asset Management L.P. Grows Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Point72 Asset Management L.P. lifted its holdings in Castle Biosciences, Inc. (NASDAQ:CSTL) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 547,104 shares of the company’s stock after buying an additional 47,912 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.95% of Castle Biosciences worth $14,580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Castle Biosciences by 165.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 69,409 shares of the company’s stock worth $1,980,000 after buying an additional 43,241 shares during the period. Truist Financial Corp grew its position in shares of Castle Biosciences by 4.6% in the 4th quarter. Truist Financial Corp now owns 21,303 shares of the company’s stock worth $568,000 after buying an additional 928 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Castle Biosciences by 15.6% in the 4th 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 during the period. Price T Rowe Associates Inc. MD grew its position in shares of Castle Biosciences by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,697 shares of the company’s stock worth $605,000 after buying an additional 1,837 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of Castle Biosciences by 11.4% in the 4th quarter. MetLife Investment Management LLC now owns 16,017 shares of the company’s stock worth $427,000 after buying an additional 1,645 shares during the period. 92.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Castle Biosciences news, insider Derek J. Maetzold sold 1,236 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $21.52, for a total transaction of $26,598.72. Following the sale, the insider now owns 74,627 shares in the company, valued at approximately $1,605,973.04. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 27,454 shares of company stock worth $553,030. Company insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CSTL shares. Lake Street Capital reduced their target price on shares of Castle Biosciences from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Guggenheim set a $30.00 price objective on shares of Castle Biosciences and gave the company a “buy” rating in a research report on Friday, March 28th. Robert W. Baird increased 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, Canaccord Genuity Group cut their price objective on shares of Castle Biosciences from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Castle Biosciences presently has an average rating of “Buy” and a consensus target price of $37.50.

Castle Biosciences Price Performance

CSTL opened at $16.75 on Friday. The company’s 50-day simple moving average is $19.49 and its two-hundred day simple moving average is $25.06. Castle Biosciences, Inc. has a 52-week low of $15.70 and a 52-week high of $35.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.64 and a current ratio of 7.78. The stock has a market capitalization of $483.61 million, a P/E ratio of 83.75 and a beta of 1.19.

Castle Biosciences (NASDAQ:CSTL) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $87.99 million during the quarter, compared to the consensus estimate of $80.40 million. As a group, analysts predict that Castle Biosciences, Inc. will post 0.44 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.