Castle Biosciences, Inc. (NASDAQ:CSTL) Shares Acquired by Bailard Inc.

Bailard Inc. increased its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 12.5% during the 4th quarter, Holdings Channel reports. The fund owned 9,900 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Bailard Inc.’s holdings in Castle Biosciences were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CSTL. Point72 Asset Management L.P. boosted its position in Castle Biosciences by 828.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 499,192 shares of the company’s stock worth $14,237,000 after purchasing an additional 445,415 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Castle Biosciences by 147.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,458 shares of the company’s stock valued at $4,719,000 after purchasing an additional 98,571 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Castle Biosciences during the fourth quarter worth $1,959,000. State Street Corp grew its position in Castle Biosciences by 9.8% during the third quarter. State Street Corp now owns 680,001 shares of the company’s stock valued at $19,394,000 after buying an additional 60,924 shares during the period. Finally, Lisanti Capital Growth LLC increased its holdings in Castle Biosciences by 60.2% in the third quarter. Lisanti Capital Growth LLC now owns 154,710 shares of the company’s stock valued at $4,412,000 after buying an additional 58,160 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Scotiabank raised their target price on Castle Biosciences from $37.00 to $44.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Robert W. Baird raised their price objective on Castle Biosciences from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Stephens restated an “overweight” rating and issued a $41.00 price objective on shares of Castle Biosciences in a research report on Thursday, January 2nd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Castle Biosciences has an average rating of “Buy” and a consensus target price of $40.00.

Insider Buying and Selling

In other news, insider Derek J. Maetzold sold 9,364 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $28.34, for a total value of $265,375.76. Following the transaction, the insider now directly owns 84,762 shares of the company’s stock, valued at approximately $2,402,155.08. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel Bradbury sold 7,867 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $29.14, for a total transaction of $229,244.38. Following the sale, the director now directly owns 1,425 shares of the company’s stock, valued at approximately $41,524.50. This represents a 84.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,799 shares of company stock worth $824,289. 7.20% of the stock is owned by corporate insiders.

Castle Biosciences Price Performance

NASDAQ:CSTL opened at $21.32 on Thursday. The stock has a 50 day moving average of $26.87 and a two-hundred day moving average of $29.05. Castle Biosciences, Inc. has a 12 month low of $16.97 and a 12 month high of $35.84. The firm has a market cap of $597.11 million, a P/E ratio of 106.61 and a beta of 0.98. The company has a current ratio of 7.78, a quick ratio of 7.64 and a debt-to-equity ratio of 0.02.

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.