Connor Clark & Lunn Investment Management Ltd. bought a new stake in Castle Biosciences, Inc. (NASDAQ:CSTL – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 331,727 shares of the company’s stock, valued at approximately $7,912,000. Connor Clark & Lunn Investment Management Ltd. owned 1.09% of Castle Biosciences as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Castle Biosciences during the 2nd quarter worth $26,000. Federated Hermes Inc. acquired a new stake in shares of Castle Biosciences in the fourth quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new stake in Castle Biosciences during the fourth quarter worth about $35,000. Jones Financial Companies Lllp boosted its holdings in Castle Biosciences by 10,592.0% during the first quarter. Jones Financial Companies Lllp now owns 2,673 shares of the company’s stock worth $54,000 after buying an additional 2,648 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Castle Biosciences by 26.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,418 shares of the company’s stock worth $55,000 after buying an additional 297 shares during the period. 92.60% of the stock is currently owned by hedge funds and other institutional investors.
Castle Biosciences Trading Down 2.6%
Shares of CSTL opened at $34.08 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.04 and a quick ratio of 5.85. Castle Biosciences, Inc. has a 1-year low of $17.72 and a 1-year high of $44.28. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -51.64 and a beta of 0.98. The firm has a 50 day simple moving average of $26.73 and a 200-day simple moving average of $25.41.
Wall Street Analyst Weigh In
CSTL has been the subject of a number of research reports. Weiss Ratings upgraded shares of Castle Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. Wall Street Zen upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Roth Capital started coverage on Castle Biosciences in a research note on Wednesday, June 24th. They issued a “buy” rating and a $40.00 price objective for the company. Zacks Research cut Castle Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, KeyCorp set a $35.00 target price on Castle Biosciences in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.
Get Our Latest Stock Analysis on CSTL
Insider Transactions at Castle Biosciences
In other news, insider Derek J. Maetzold sold 20,356 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.11, for a total value of $633,275.16. Following the sale, the insider directly owned 21,479 shares in the company, valued at $668,211.69. This represents a 48.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kristen M. Oelschlager sold 12,384 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $34.42, for a total value of $426,257.28. Following the sale, the chief operating officer directly owned 72,649 shares in the company, valued at approximately $2,500,578.58. The trade was a 14.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,907 shares of company stock valued at $4,679,596 over the last three months. 6.10% of the stock is currently owned by insiders.
About Castle Biosciences
Castle Biosciences, Inc is a molecular diagnostics company specializing in the development and commercialization of prognostic and diagnostic tests for patients with dermatologic conditions. The company’s proprietary portfolio of genomic assays is designed to improve risk assessment and guide clinical decision-making for individuals with skin cancers and other skin-related diseases. By combining genomic data with advanced statistical algorithms, Castle Biosciences seeks to provide actionable insights that help physicians tailor treatment plans and monitoring strategies.
The company’s flagship test, DecisionDx-Melanoma, evaluates the probability of metastasis in patients diagnosed with cutaneous melanoma, supporting more personalized surveillance and therapeutic approaches.
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