Inspire Investing LLC Buys 3,234 Shares of Castle Biosciences, Inc. (NASDAQ:CSTL)

Inspire Investing LLC boosted its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 7.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,750 shares of the company’s stock after purchasing an additional 3,234 shares during the period. Inspire Investing LLC’s holdings in Castle Biosciences were worth $1,219,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in shares of Castle Biosciences by 54.4% during the third quarter. Quest Partners LLC now owns 4,318 shares of the company’s stock valued at $123,000 after acquiring an additional 1,522 shares in the last quarter. US Bancorp DE increased its stake in Castle Biosciences by 1,889.2% during the 3rd quarter. US Bancorp DE now owns 4,615 shares of the company’s stock valued at $132,000 after purchasing an additional 4,383 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Castle Biosciences in the third quarter worth about $140,000. Assetmark Inc. raised its holdings in Castle Biosciences by 16.8% in the third quarter. Assetmark Inc. now owns 5,212 shares of the company’s stock worth $149,000 after buying an additional 748 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Castle Biosciences by 64.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,335 shares of the company’s stock worth $152,000 after buying an additional 2,093 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

Castle Biosciences Stock Down 0.5 %

CSTL stock opened at $26.50 on Friday. The company has a market cap of $742.27 million, a price-to-earnings ratio of 132.51 and a beta of 0.92. 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 business’s 50-day moving average is $28.66 and its two-hundred day moving average is $28.18. Castle Biosciences, Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $35.84.

Castle Biosciences (NASDAQ:CSTL) last announced its earnings results on Monday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $85.78 million during the quarter, compared to analyst estimates of $78.55 million. During the same period in the previous year, the business posted ($0.26) earnings per share. As a group, analysts forecast that Castle Biosciences, Inc. will post 0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. BTIG Research raised their price target on shares of Castle Biosciences from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Stephens restated an “overweight” rating and issued a $41.00 price target on shares of Castle Biosciences in a research note on Thursday, January 2nd. Lake Street Capital increased their price objective on Castle Biosciences from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their target price on Castle Biosciences from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Scotiabank raised their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $40.29.

Insider Activity

In related news, insider Derek J. Maetzold sold 986 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.03, for a total value of $27,637.58. Following the completion of the transaction, the insider now owns 80,818 shares of the company’s stock, valued at approximately $2,265,328.54. This represents a 1.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tobin W. Juvenal sold 3,507 shares of Castle Biosciences stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $35.56, for a total value of $124,708.92. Following the sale, the insider now directly owns 54,178 shares in the company, valued at $1,926,569.68. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,306 shares of company stock valued at $1,063,756 in the last 90 days. Company insiders own 7.20% 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.