Monarch Partners Asset Management LLC bought a new position in Castle Biosciences (NASDAQ:CSTL) during the third quarter, Holdings Channel reports. The fund bought 16,590 shares of the company’s stock, valued at approximately $300,000.
Several other hedge funds and other institutional investors also recently modified their holdings of CSTL. Essex Investment Management Co. LLC purchased a new position in shares of Castle Biosciences during the third quarter valued at $963,000. Perkins Capital Management Inc. purchased a new position in shares of Castle Biosciences during the third quarter valued at $505,000. Chartwell Investment Partners LLC purchased a new position in shares of Castle Biosciences during the third quarter valued at $672,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Castle Biosciences during the third quarter valued at $313,000. Institutional investors and hedge funds own 0.88% of the company’s stock.
CSTL traded up $0.78 during trading on Friday, reaching $22.08. 74,100 shares of the stock traded hands, compared to its average volume of 135,789. Castle Biosciences has a fifty-two week low of $15.26 and a fifty-two week high of $28.50. The firm’s 50-day moving average price is $19.72.
Castle Biosciences (NASDAQ:CSTL) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.54). The company had revenue of $10.74 million during the quarter, compared to analyst estimates of $7.06 million. As a group, research analysts forecast that Castle Biosciences will post -1.57 earnings per share for the current year.
A number of research analysts have recently weighed in on CSTL shares. Robert W. Baird lifted their price target on Castle Biosciences from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Canaccord Genuity lifted their price target on Castle Biosciences from $26.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Zacks Investment Research upgraded Castle Biosciences from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. BTIG Research lifted their price target on Castle Biosciences to $32.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Svb Leerink started coverage on Castle Biosciences in a report on Monday, August 19th. They set an “outperform” rating and a $28.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.60.
About Castle Biosciences
Castle Biosciences, Inc, a commercial-stage dermatological cancer, develops and commercializes diagnostic and prognostic tests for cancers. Its lead product is DecisionDx-Melanoma, a multi-gene expression profile (GEP) test to identify stage I and II patients at high risk of metastasis based on biological information from 31 genes within their tumor tissue.
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