Y Intercept Hong Kong Ltd Increases Stock Holdings in Castle Biosciences, Inc. (NASDAQ:CSTL)

Y Intercept Hong Kong Ltd raised its stake in shares of Castle Biosciences, Inc. (NASDAQ:CSTL) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,206 shares of the company’s stock after purchasing an additional 845 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Castle Biosciences were worth $690,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSTL shares. BTIG Research upped their price target on Castle Biosciences from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Scotiabank increased their price target on shares of Castle Biosciences from $37.00 to $44.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group boosted their price objective on shares of Castle Biosciences from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Lake Street Capital upped their price objective on shares of Castle Biosciences from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, KeyCorp lifted their target price on shares of Castle Biosciences from $28.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Castle Biosciences currently has an average rating of “Buy” and a consensus target price of $37.88.

Castle Biosciences Trading Down 0.9 %

Shares of NASDAQ CSTL opened at $28.87 on Friday. The firm’s 50 day moving average price is $31.30 and its 200-day moving average price is $27.10. Castle Biosciences, Inc. has a 52-week low of $16.97 and a 52-week high of $35.84. 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 company has a market cap of $808.56 million, a PE ratio of 144.35 and a beta of 0.92.

Castle Biosciences (NASDAQ:CSTL) last issued its earnings results on Monday, November 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. Castle Biosciences had a return on equity of 1.47% and a net margin of 1.95%. The business had revenue of $85.78 million for the quarter, compared to the consensus estimate of $78.55 million. During the same period last year, the business posted ($0.26) EPS. On average, equities research analysts expect that Castle Biosciences, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Derek J. Maetzold sold 986 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.73, for a total transaction of $28,327.78. Following the transaction, the insider now owns 94,622 shares in the company, valued at $2,718,490.06. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Bradbury sold 7,867 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.44, for a total transaction of $231,604.48. Following the completion of the sale, the director now owns 5,700 shares in the company, valued at $167,808. This represents a 57.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,185 shares of company stock worth $814,495. 7.20% of the stock is owned by corporate insiders.

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.