Braidwell LP Has $9.47 Million Stake in Castle Biosciences, Inc. (NASDAQ:CSTL)

Braidwell LP reduced its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 331,986 shares of the company’s stock after selling 84,114 shares during the quarter. Braidwell LP owned about 1.19% of Castle Biosciences worth $9,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Algert Global LLC boosted its stake in Castle Biosciences by 0.4% during the 3rd quarter. Algert Global LLC now owns 134,321 shares of the company’s stock worth $3,831,000 after acquiring an additional 599 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Castle Biosciences by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 10,122 shares of the company’s stock worth $220,000 after purchasing an additional 675 shares during the period. Assetmark Inc. boosted its position in shares of Castle Biosciences by 16.8% during the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after purchasing an additional 748 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Castle Biosciences by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,882 shares of the company’s stock valued at $215,000 after buying an additional 952 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Castle Biosciences by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,034 shares of the company’s stock valued at $400,000 after buying an additional 1,131 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Trading Down 0.4 %

NASDAQ:CSTL opened at $30.44 on Friday. The company has a market cap of $852.62 million, a P/E ratio of 152.21 and a beta of 0.99. Castle Biosciences, Inc. has a twelve month low of $16.97 and a twelve month high of $35.84. The business has a 50 day moving average price of $30.94 and a two-hundred day moving average price of $26.63. The company has a quick ratio of 7.64, a current ratio of 7.78 and a debt-to-equity ratio of 0.02.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a net margin of 1.95% and a return on equity of 1.47%. The business had revenue of $85.78 million during the quarter, compared to analysts’ expectations of $78.55 million. During the same quarter in the prior year, the company posted ($0.26) earnings per share. As a group, analysts expect that Castle Biosciences, Inc. will post -0.08 EPS for the current fiscal year.

Insider Activity

In other news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $28.73, for a total transaction of $28,327.78. Following the sale, the insider now owns 94,622 shares in the company, valued at $2,718,490.06. This represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Frank Stokes sold 6,923 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $29.93, for a total value 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 approximately $922,532.39. The trade was a 18.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,213 shares of company stock worth $752,673 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CSTL shares. Lake Street Capital lifted their target price on Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. BTIG Research lifted their price objective on Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, October 14th. Robert W. Baird increased their target price on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group lifted their price target on shares of Castle Biosciences from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Stephens reiterated an “overweight” rating and issued a $37.00 price target on shares of Castle Biosciences in a report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences has an average rating of “Buy” and a consensus price target of $37.88.

About Castle Biosciences

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.